Products December 4, 2007

DATAIR DB Software Incorporates PPA Funding Rules

December 4, 2007 (PLANSPONSOR.com) - Westmont, Illinois-based DATAIR Employee Benefit Systems has released its defined benefit administration and proposal software with preliminary capabilities for PPA 2006 pension funding rules.
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A DATAIR news release said the new version of the system includes:

  • Funding Target and Target Normal Cost utilizing the three rate segments concept;
  • Section 404(o) Cushion Amount;
  • Shortfall amortization bases and amounts;
  • Section 430 minimum and Section 404(o) maximum contributions;
  • Funding Target Attainment Percentages (FTAPs);
  • PPA 2006 required mortality tables;
  • Valuation reports showing the Cushion Amount Increase, Funding Shortfalls, minimum and maximum contributions and 5500 Schedule SB information; and 
  • 415 lump sum maximums, 417(e) minimum present value, and PBGC liabilities calculated using segment rates.

The new offering also incorporates the 2008 IRS limits, the announcement said.

The software accommodates the complexities of class/tiered DC and DB plans, aggregated DC/DB plans, 412(e)(3) plans {formerly 412(i)}, and Cash Balance Pension Plans.  

More information is at www.datair.com .

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