Redefining Retirement Administration
V3 Supports Defined Benefit/PRT, Defined Contribution and Tax Deferred Annuity Processing.
Supports Your Plans
V3 for Retirement is a fully integrated, highly scalable solution suitable for use by public pension funds, Taft-Hartley plans, municipal plans, third party administrators and other similar organizations.
Daily Tasks Made Easy
Address a full spectrum of requirements including enrollment, payroll reporting, contributions processing, benefits calculations and benefits payroll.
Processes enrollments across a broad array of product offerings in a consolidated fashion while applying case-specific eligibility and election rules. Provides self-service capabilities for employers and employees. Speeds up and simplifies benefits enrollment via a configurable enrollment rules engine.
Maintain member accounts and work history. As employers submit contribution reports, V3 maintains transaction records that track work periods, job classifications, hours, repayments, etc. These details, combined with other critical elements, are captured to build a complete view of each member’s work history.
Retirement Application Processing
Manages the retirement application process from initial estimate through approved benefit. Includes estimates, follow up correspondence, application generation, waivers, approval processing and more. Rule-based automation and self-service capabilities support straight through processing and administration by exception.
Withdrawals & Transfers
V3 for Retirement provides all the required tools to increase efficiencies, accuracy and customer service of the membership transfer and withdrawal processes.
Employer Payroll Reporting
Payroll processing is accomplished quickly and efficiently, allowing changes and additions to be received close to actual payroll dates. This is a major win for members, particularly someone awaiting his/her first check or a change in payment who would have previously had to wait for the next month’s payroll cycle.
Cash Receipts and AR
Integrated mass cash receipts processing permits users to import most industry standard file formats.
Revisions & Corrections
V3 for Retirement allows for overrides, corrections and reversals of system-calculated results. This is especially significant in retirement calculations where unavailability of old payroll data may require manual updates.
Pension Plan Rules & Provisions
Specific pension rules are configured, not hard-coded, within the installed system. This allows for both a high degree of functional fit and an ongoing evolution of configurations as requirements change in the future.
A Complete Solution
V3 offers a complete suite of administration capabilities and a comprehensive set of enterprise features in a single, integrated solution leveraging a single common database and user interface. This creates tremendous opportunities for system consolidation and data deduplication while potentially revolutionizing your administrative capabilities and service offerings.
V3’s various retirement and enterprise modules can be used in any combination in a single installation. From standalone function-specific implementations to full-life cycle deployments, V3 can be tailored to your specific priorities and requirements. This also supports risk-mitigating phased rollouts in which an organization grows into its target state at its own preferred pace.
V3locity is a turn-key, AWS-based alternative to an on-premise installation. It is V3 encapsulated inside of a powerful, proprietary management layer that ensures smooth, effective operations 24x7x365. It is a fully managed platform that delivers tremendous scalability, security, and reliability with minimal upfront expenses and a predictable, contained long term cost model.