Retirement Reporting Module
 
The Information Technology, Inc. Retirement Reporting Module (RRM) consolidates retirement account information from the Premier Core Savings and Certificate of Deposit Applications to provide online inquiry and comprehensive reporting. RRM projects required minimum distributions and generates customer statements, audit, exception and distribution eligibility reports. RRM schedules account reviews and generates customer notices of upcoming reviews.
Features
· Consolidation of Premier Savings and COD retirement accounts
· Online inquiry into customer, plan, tax, distribution, beneficiary and
 account information
· Required minimum distribution calculator
· Customer notification
· Customer statements
· Comprehensive reporting
· Plan level parameters
Inquiry, Reporting
The RRM update consolidates retirement account information from the Savings and Certificate of Deposit Applications, providing online inquiry and comprehensive reporting capabilities for the following:
· Individual customers-retirement plans, such as individual, spousal and SEP, combined
by tax ID number. For example, customer inquiries are used to review all the
 retirement accounts belonging to a tax ID number.
· Retirement account plans are used to automatically combine multiple accounts of the
same type, such as individual, spousal and SEP. For example, plan inquiries are used
to review all retirement accounts classified as individual IRA accounts.
· Individual savings accounts and certificates of deposit
· Tax reporting information
· Beneficiaries
Required Minimum Distributions
Required minimum distributions can be projected using the online minimum distribution calculator to help customers in distribution status determine how much they are required to withdraw annually from retirement accounts using life expectancy or amortization methods, and the following factors:
· Single life expectancy
· Joint life expectancy
· Minimum Distribution Incidental Benefit (MDIB)
For more on the Retirement Reporting Module, contact
Information Technology, Inc. at 402.421.4207.
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