Benefit Payments

ASI’s software is designed specifically for trust departments of financial services firms and client organizations to administer their pension disbursements.  Our extensive benefit payment processing capabilities include:

• Calculate, withhold and report Federal and State taxes
• 24/7 Internet access to disbursement and tax information     
• Full interface with accounting and recordkeeping systems    
• Customized client branding 
• Access to view and print tax forms on-line
• Dual authority for payment processing approvals
• Extensive audit and corrections capabilities
• Significant reporting capabilities and retiree data extractions based on your requirements
• Single payments to participants in multiple plans (Qualified, Non-Qualified)   
• Participant check information, transaction, and tax history viewable online, via the Internet
• Multiple direct deposit EFT/ACH processes including payments to multiple locations or to multiple accounts within the same location, and split payment between EFT and check
• Multi-level password security
• Retiree data extractions based on your requirements
• Payee message(s) printed on check stub
• Comprehensive check stub includes payee change of address

ASI’s Benefit Payment software includes important tax processing solutions that include the following features:

• Comprehensive laser printed or PDF payment registers and reports
• Unique benefit/deduction customizable per trust account
• Federal and State tax withholding calculations
• Federal and State tax filing and client reports
• Federal and State TEFRA mailings