Distributions are critical revenue center for recordkeeping and plan administration institutions. CORE distributions processing solution can address all the challenges around this ‘Key Liquidity Event’. It streamlines the document and information flow associated with various types of withdrawals like hardship, in-service, RMD, separation from service and direct rollovers into IRAs; and also supports multiple delivery channels like EFT, Checks, and wire to maximize efficiency and throughput.
Intuitive connected web access for all critical stakeholders like plan participants, advisors, sponsors and administrators provides greater oversight and control over the process. Supported by a robust rules engine with configurable rules by plan, investment, source and employee eligibility criteria, it helps all the stakeholders in understanding the needs and disinvestment preferences of the participants, and provides relevant distribution options. Records management and supporting document retention policies are integral to the CORE distributions processing solution, as are audit trails and reporting.