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.

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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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