1. Siebel Insurance Guide
  2. Group Pension Sample Tasks

Group Pension Sample Tasks

The following figure shows some sample tasks that end users typically perform when managing group pensions.

Group Pensions Management: This image is described in the surrounding text.

As shown in this figure, the typical tasks involved in managing group pensions are as follows:

  1. Define a group pension product. This one-time setup task, includes the following subtasks:

    • Defining a group pension product

    • (Optional) Specify funding vehicles

  2. Define a group pension plan. This one-time setup task for an account includes the following subtasks:

    • Select a group product,

    • Define plan classes

    • Define plan rules

    • Specify key plan contacts

    • Record payment method and billing information

  3. Ongoing plan administration. This includes the following subtasks:

    • Add eligible plan members

    • Enrolling plan participants

    • Specify either participant contribution or a participant allocation

    • Record beneficiary information