Genesys Defined Benefits
The Genesys Defined Benefits System offers complete recordkeeping capabilities for
pension plans and other defined-benefit retirement programs. It is designed to maintain
complete, accurate data on all plan participants, from basic biographical and beneficiary
information to spousal data, employee elections, status history, termination history,
detailed breaks in service history and tracking of grandfathered benefits.
In addition, you can track all status changes to provide information for service benefit computations. Changes to hire date, leaves of absence, layoffs and rehires, transfers and terminations, employee status change, and pre-retirement death benefit election dates are also tracked by the system.
The result is a complete history for FICA, Final Average Salary, and other calculations. If you do not have the full salary history for an individual, the system can make reverse projections, "backloading" salaries and history based on a specified percentage.
With the Genesys Defined Benefits System, you can administer one plan, or several, with easy-to-use screens that enable you to organize all of the information you need to process benefits. Standard functions include processing for:
- Multi-plan modeling & analysis
- Eligibility testing
- Automated enrollment
- Vesting schedules
- Comprehensive benefit statements
- Plan cost factors
- Retirement calculations
- Beneficiary and historical data
- Retirement options; early, deferred, special
Genesys Software Systems, Inc., 5 Branch Street, Methuen, MA 01844. Tel: 978-685-5400; Fax: 801-761-2015.