MAGNER.NETWORK Benefitwire™
Benefitwire™ is a comprehensive, Internet accessible plan administration platform for administering and communicating executive benefit plans. Benefitwire™ provides complete, daily valuation and communication services, designed to handle a multitude of executive benefit programs. This service provides program participants and program sponsors with on-demand information on their benefit programs.
Benefitwire™ offers completely independent record-keeping functionality for participant liabilities (phantom account support), as well as complete sponsor funding/financing alternatives. Program information is available on-demand, via online access, voice response dial–in, or directly through an account representative. In addition, when coupled with the online Benefitfolio® service, participants have online access to benefit plan documents, dynamic Q&As and customized plan support services. Employers and advisors can also use the service to publish news and announcements to clients and program participants, and efficiently offer new programs to these participants.
Benefitwire™ provides complete functionality, including:
- Unlimited investment options
- Multiple retirement and in-service distribution options, with discrete plan/year and distribution event asset allocation
- Complete participant and sponsor reporting
- Complete employer match and vesting support
- Discrete participant event and fee capability
- Complete participant withdrawal support
Benefitwire™ also maintains exhaustive Account History including:
- Participant contributions
- Employer matching contribution
- Unit and interest based investments
- Fund allocations and fund re-balancing
Benefitwire™ is easy to implement and use.
Plan administration services are provided on a per-plan and per-participant fee basis. The service also provides powerful, user controlled publication tools. Now employers and distributors can publish their own web based benefit communications, announcements and offerings to employees, on their own schedule.
