Expertise

Pension Benefit Management Solutions

Novitas Pension Benefit Management System is the flagship product of Pension Benefit Solutions Group. PBMS provides the complete in-house and hosted solutions for the Pension Benefit Administrators to manage even the most complex defined benefit plans with ease.
PBMS is designed and developed to take full advantage of the latest Microsoft .NET and SQL server solutions. PBMS is the powerful Pension Benefit System tool set to manage most demanding day-to-day tasks of complex benefit plans, yet easily customizable to meet the unique rules and requirements of each benefit plan.
Pension Benefit Management System consists of comprehensive set of modules which let users to view, create and update information on simple and easy to use Windows graphical forms.

Pension Benefit Management System-At-A-Glance

Member module

Member module lets the users to create, modify and view all member related data, including:

  • Demograchics information including history of changes
  • Employee contribution detail and summary with interest
  • Service credit history
  • Dependents and beneficiary information
  • Reciprocal information
  • QDRO/QILDRO information

Benefit Payment Module

Benefit payment module lets the users to create, modify, view and disburse member benefit payments. This module will set up the periodic benefit payment as well as lump sum/partial one time benefit for members, including:

  • Annuity benefit payment calculation and summary
  • Disability benefit payment calculation and summary
  • Refund benefit payment calculation and summary
  • Disbursement management
  • Bank reconciliation management
  • Direct deposit information
  • Lump sum/Partial rollover information
  • Adjustment and supplements summary
  • Federal and State tax withholdings
  • Insurance deductions
  • 1099 information

Member Communication Module

Each Member and benefit case activities are records and tracked by system users and date. Member communications module provides the at-a-glace look at the entire activities for each benefit case, including:

  • Benefit case and Task tracking information
  • Department correspondence tracking information
  • Valid benefit proof tracking information
  • Benefit case notes/comments information

Benefit Estimate Module

Benefit Estimate module lets users to run unlimited numbers of benefit estimates for the members providing Benefit Counselors the capabilities to advise members on their correct retirement options. Benefit estimate module includes:

  • Member Salary calculations
  • Member Service credit calculations
  • Member retirement benefit calculations
  • Member reciprocal retirement benefit calculations

Pension Benefit Management System, PBMS, is the comprehensive defined benefit administration system. PBMS combines the proven effectiveness of the latest multi-tier client server and web technologies with many years of hands on defined benefit management experience to deliver the simple and easy-to-use, yet powerful solutions to all Pension Benefit Administrators.