Siebel eInsurance Guide > Group Pensions > End-User Procedures >

Defining a Group Pension Plan

To define a group pension plan, end users must perform the following steps:

To define a group pension plan

  1. Navigate to the Group Pensions screen.
  2. From the Show drop-down list, select My Group Pensions.
  3. In the More Info form, add a record and complete the necessary fields.

    4. Some fields are described in the following table.

    Field
    Comments
    Plan Sponsor
    A company or account that has a group pension plan associated with it or a company or account that provides a group pension for a group of people. For more information on adding additional companies, see Adding a Company.
    Name
    The group pension product defined in the Group Pension Product Administration view.
    For more information on defining group pension products, see To define a group pension product.
    Type
    The type of group pension plan. Options include:
    • Defined Benefit. Group pension plan that defines the amount of the benefit a plan participant will receive upon retirement.
    • Defined Contribution. Group pension plan that describes the plan sponsor's annual contribution to the plan on behalf of each plan participant.
    Sub Type
    Further defines the type of group pension plan being created. Available values are based on the Type field selection.
    If the Type is Defined Benefit, available options include Final Salary and Average Salary.
    If the Type is Defined Contribution, available options include 401(k), 403(b), Group Occupational Pension, Group Personal Pension, and Group Stakeholder Pension (UK-specific).

End users use the Rules view tab to define the types of rules that govern the selected group pension plan.

To specify plan rules

  1. Navigate to the Group Pensions screen.
  2. From the Show drop-down list, select My Group Pensions.
  3. In the Group Pensions list, select a group pension plan.
  4. Click the Rules view tab.
  5. In the Rules form, complete the necessary fields.

End users define different groups of plan participants in the Classes view tab.

To define classes for plan participants

  1. Navigate to the Group Pensions screen.
  2. From the Show drop-down list, select My Group Pensions.
  3. In the Group Pensions list, select a group pension plan.
  4. Click the Classes view tab.
  5. In the Classes list, add a record and complete the necessary fields.
  6. If this is an employer-sponsored plan, enter the appropriate percentage in the Employer Match % field.

End users use the Contacts view tab to define key contacts associated with the selected plan. These contacts are not plan participants, but consist of key individuals associated with the selected plan such as a plan administrator, trustee, or investment committee member.

To record key group pension plan contacts

  1. Navigate to the Group Pensions screen.
  2. From the Show drop-down list, select My Group Pensions.
  3. In the Group Pensions list, select a group pension plan.
  4. Click the Contacts view tab.
  5. In the Contact list, add a record and complete the necessary fields.
  6. In the Contact Role field, select one of the following:

To enter billing information

  1. Navigate to the Group Pensions screen.
  2. From the Show drop-down list, select My Group Pensions.
  3. In the Group Pensions list, select a group pension plan.
  4. Click the Bill To view tab.
  5. In the Pay Plans list, create the appropriate number of pay plans by adding a record for each plan and completing the necessary fields.
  6. In the Bill to Address form, add a record and complete the necessary fields.

 Siebel eInsurance Guide 
 Published: 04 June 2003