Montreux TPA/DB

Outsourced Defined Benefit(DB) Administration Services

Defined Benefit (DB) pension plan administration is a combination of art and science – technology can make it more efficient, but you still need highly qualified craftspeople with decades of DB expertise to get the job done properly.

Penad will free you of the management and technical challenges associated with pension plan administration. Montreux TPA (TPA stands for “Third Party Administration”, also known as BPO – Business Process Outsourcing), Penad’s DB administration solution, is all about taking care of your pension business with the best people and the best software tools.

Penad is pension administration – the ideal business solution for professional managers who demand the best.

Montreux TPA is built around Penad’s team of DB pension experts.

Every DB pension plan has unique benefit provisions, which require judicious handling by people who are deeply conversant with DB pension management. With Montreux TPA, plan sponsors receive an administration solution that is tailored to the unique provisions of their plan and is managed by senior staff who fully grasp the plan’s subtleties.

The administration team at Penad has managed hundreds of DB pension plans representing almost every conceivable benefit type. Our senior administrators are recognized as experts in the field and serve as advisors and consultants to pension boards and are called to speak on pension issues at conferences in Canada and internationally. In fact, amongst the administrators at Penad, if you have less than fifteen years of experience in pensions, you are considered something of a newbie! Every member of Penad’s DB pension administration team has a least a dozen years in the field, while most have worked on DB administration for over twenty years. To put it plainly, the people at Penad KNOW DB pension plan administration.
TPA Services

Montreux TPA is a comprehensive service package where Penad takes care of every pension administration detail on your behalf. The DB TPA component of the Montreux TPA model delivers six integrated administration processes and services.

Data Acquisition and Plan Installation

Penad loads your pension data into our administration database. Data audit and purification services are available during this stage. Penad will issue member certificates to all members, as well as providing the plan sponsor with an Administration Guide including forms and supplies for new transactions.

Comprehensive Monthly Administration

On-going Administration includes:

– New member enrolment
– On-going data changes (beneficiary update, etc.)
– Updating of contributions
– Updating of salary changes/hours worked
– Responding to member inquiries
– What-if pension calculations

Year End Reports and Member Statements

Penad issues Year End Reports to the plan sponsor and individual employers and delivers flex-design Member Statements.
– Member benefit accrual updates
– Pension adjustments and reversals
– Government information returns

Member Level Transactions

All Member Transactions are covered, including:
– The calculation of benefits on termination, retirement, death, or marriage breakdown
– Issuance of member option forms
– Issuance of settlement instructions to trustee
– Annuity placements

Plan Level Transactions

Plan Transactions include:

– Plan wind-ups, conversions, takeovers, mergers, and retirement windows
– Standard and ad hoc reports
– Data exports for actuarial analysis

Internet Access

Montreux TPA offers Internet access through a standard web-browser – plan sponsors, employers, and members can gain access to and update critical pension data. Web page layout and design is fully customizable to the branding of the plan sponsor.


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brochure
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