SunGard Offers New Tax Calculator Solution

April 6, 2010 ( - SunGard has released a new online tax calculation service for benefit administrators requiring federal and state tax withholding support for qualified and non-qualified pension, 401(k), 403(b), SEP, Simple, and individual retirement account (IRA) plan distributions.

SunGard’s Omni Tax Calculator provides a “fast and efficient” method of accessing current withholding tax tables via data entry or system-to-system connectivity for numerous distribution transactions, according to a press release.  As a Software as a Service (SaaS) solution delivered on a “pay as you go” basis, Omni Tax Calculator provides customers with automatic changes to federal and state tax withholding tables every time the government updates them, as well as updates to software functionality.    

It helps administrators reduce manual processes and avoid the cost of additional hardware or technical expertise to maintain the system, scales automatically to usage volume and activity, and provides faster and more reliable service to their clients.  

“Omni Tax Calculator provides an intuitive and simple way for customers to get the software they need quickly and easily without the need for additional hardware and IT staff,” said Kevin Rafferty, president of SunGard’s wealth management business, in the announcement.  

An integrated suite of solutions for retirement plan administration, SunGard’s Omni helps mid to large providers launch and maintain retirement products and services customized to their client needs.  Administrators use Omni to manage the recordkeeping, trading and reconciliation, check writing, and benefit disbursement processes of defined contribution, defined benefit, and other contributory schemes worldwide.  

More information is at