CORE Insights - Edition 1

Welcome to CORE Insights. We're committed to providing the best tools to manage retirement plan administration effectively. We're thrilled to unveil several upcoming developments designed to streamline administration, enhance participant experience, and empower informed decision-making.

What's new with CORE:

1.?Personalized Investment Management: We're integrating with a Managed Account service provider, offering participants the valuable assistance of financial professionals. This means participants can benefit from expert guidance tailored to their individual retirement goals, leading to a more secure financial future.

2.?Enhanced MEP/PEP Implementation: We're in the early stages of enhancing our platform to support Multi-Employer Pension (MEP) and Pooled Employer Pension (PEP) provision with reporting capability, which will help a group of companies to band together to offer a retirement plan.

3.?Enhanced Eligibility Forecasting: Experience accuracy and efficiency in employee eligibility with our upgraded Eligibility Forecast Report, covering all three service calculation methods.

4.?Introducing CORE Adjustments: We are beginning development of our CORE Adjustments module, where incorrect transactional entries can be rectified by the administrators such as Balance Adjustments, Lost Earnings adjustments, Asset transfers across sources, and between participant accounts and forfeitures. This translates to greater accuracy, improved plan compliance, and reduced administrative burden.

Spotlight on CORE Loans:

CORE Loans empowers participants to manage their loan requests efficiently with self-service and straight-through processing. Unlock faster loan applications, expedited approvals, e-signatures, and timely communication to stakeholders, enhancing the overall user experience and operational efficiency.

1.?Flexible Loan Options: Customize loan options to meet diverse participant needs, from residential loans to general-purpose loans, with features like adjustable maximum/minimum amounts and flexible interest rates.

2.?Precise Interest Calculations: Daily interest computation ensures accurate calculation of interest for each day elapsed between loan repayments.

3.?Streamlined Repayment Options: Easily re-amortize active loans to adjust payment amounts, tenure, and repayment frequency, providing participants with greater control over their financial obligations.

4.?Refinance for Flexibility: Refinance an existing loan to top up with additional funds or adjust the interest rate.

5.?Suspension Support: Safeguard participants with loan suspension options, offering zero or modified interest rates during suspension periods to mitigate financial burdens.

6.?Flexible Repayment Handling: Upon missed Loan repayments, the administrator has the option to either deem the loan as distributed or offset it from benefits, ensuring fair and transparent loan management.

7. Dynamic Amortization: Automatically generate or update amortization schedules whenever a loan request, re-amortization, suspension, or refinancing occurs.