1.9 IRA Product Configuration

User can classify the IRA (Individual Retirement Account) accounts of the bank into different groups and assign each group an identifying code.

For example, user may define a group called IRASAV for retirement savings accounts and assign a plan (Traditional or Roth) to each of the IRA accounts opened under the product. Each group is referred to an IRA Product and is maintained in the IRA Product screen.

The various features of a IRA product configurations are captured across the following sub-screens covered as subtopics.

• Basic Details
• Preferences
• Statement Preferences
• Interest
• GL Reporting Details
• MIS Details

This topic contains the following subtopics:

• Create IRA Product
  This topic describes the systematic instructions to create IRA product. The maintenance screen allows the user to configure IRA product details.
• View IRA Product
  This topic explains the systematic instructions to view the list of configured IRA product parameters.