Pension Calculations Go Real-Time at Invesmart

May 1, 2002 ( - Invesmart has unwrapped two products for the defined benefit market - featuring an ability for plan sponsors and participants to obtain real-time calculations of benefits.

The retirement services firm said its Pension Direct administration software suite helps companies run pension programs by facilitating communication, service-center support, and actuarial and investment advisory services.

Among Pension Direct’s automated benefits, Invesmart said, is the ability for sponsors to go online and get census data, batch calculations, online benefit statements, and answers to participant inquiries

Invesmart said Pension Direct also offers Internet tutorials and retirement planning models that incorporate all of a participant’s income including Social Security, retirement plans, and personal savings.

Looking Ahead

Meanwhile, Invesmart also introduced iForecast, the asset/liability-modeling tool, can develop an asset/liability model for a defined benefit or cash balance plan, up to two decades in the future, the company said. The model determines cash costs and future accounting expenses or income.

Invesmart said iForecast reports incorporate a plan’s assets, liabilities, inflation, investment return, changing demographics, and plan design.

Users can chose from two actuarial approaches:

  • a deterministic analytical method, which is based on fixed assumptions
  • a dynamic analysis based on multiple economic environments, changing demographics and plan designs. Included are the best and worst-case scenarios with probabilities of each outcome.