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DATAIR Offers Cash Balance/401(k) Combo Plans

July 31, 2013 (PLANSPONSOR.com) – The Illinois-based DATAIR Employee Benefit Systems, Inc., has released a new suite of software, training and support services for consultants and administrators of 401(k) plans.

By Kevin McGuinness editors@plansponsor.com | July 31, 2013

These services will enable such consultants and administrators to offer cash balance/401(k) combo plans, according to the firm. Such plans may give employers, who want to maximize their own tax-deferred contributions, the means to increase the benefits they might get from a cross-tested new comparability plan. Cash balance plans offer defined contribution plan account balances and employee communications coupled with the higher deductibility limits available to defined benefit plans.

DATAIR’s “Cash Balance/401(k) Suite” offers features such as:

  • Cost/benefit illustrations and plan design comparisons;
  • Special default plans pre-designed to pass all tests;
  • Combined 401(k) and cash balance participant statements;
  • Sample and defaults plans for paired defined contribution/cash balance documents and summary plan documents;
  • Training tailored to 401(k) plan consultants; and
  • Expert actuarial support, plus review and Schedule SB certification.

DATAIR is a provider of software and support services for benefits and pension professionals. Additional information concerning Plan Document System and other DATAIR software is available at www.datair.com.

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