ProductsAugust 1, 2013

DATAIR Offers Cash Balance/401(k) Combo Plans

The Illinois-based DATAIR Employee Benefit Systems, Inc., has released a new suite of software, training and support services for consultants and administrators of 401(k) plans.

Reported by Kevin McGuinness

These services will enable such consultants and administrators to offer cash balance/401(k) combo plans, according to the firm. Such plans may give employers, who want to maximize their own tax-deferred contributions, the means to increase the benefits they might get from a cross-tested new comparability plan. Cash balance plans offer defined contribution plan account balances and employee communications coupled with the higher deductibility limits available to defined benefit plans.

DATAIR’s “Cash Balance/401(k) Suite” offers features such as:

Cost/benefit illustrations and plan design comparisons;
Special default plans pre-designed to pass all tests;
Combined 401(k) and cash balance participant statements;
Sample and defaults plans for paired defined contribution/cash balance documents and summary plan documents;
Training tailored to 401(k) plan consultants; and
Expert actuarial support, plus review and Schedule SB certification.

DATAIR is a provider of software and support services for benefits and pension professionals. Additional information concerning Plan Document System and other DATAIR software is available at www.datair.com.