Benefit Payments

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

• Calculating, withholding and reporting Federal and State taxes
• 24/7 Internet access to disbursement and tax information
• System capable of processing tax corrections immediately
• 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, and on one screen for ease of use.
• 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
• Future changes capabilty with inception date

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