1. Finance Guide
  2. Group Pension Sample Tasks

Group Pension Sample Tasks

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

The figure shows group pensions management. The first task is defining a group pension product, this is a one-time setup. This includes two sub-tasks: defining a group pension product and optionally specifying funding vehicles. The second task is defining a group pension product, this is a one-time setup for an account. This includes five sub-tasks: selecting a group product, defining plan classes, defining plan rules, specifying plan contacts, and recording payment method and billing information. The final task is ongoing plan administration. This includes 4 sub-tasks: adding eligible plan members, enrolling plan participants, specifying either partipant contribution or allocation, and finally recording beneificary information.