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.