The latest system version, Milliman Actuarial Retirement Calculator™ (MARC 5™), works more effectively and intuitively than ever, centralizing numerous functions to help employers save time and money. Most plan provisions are parameter coded by Milliman personnel, which allows installations to be completed smoothly and efficiently.
Participant and plan sponsor website access
MARC offers both plan administrators and employees the convenience of easy Internet or intranet access to all retirement information. The administration system can be run on the plan sponsor website and can be available on the Internet or a company intranet. A participant website can be made available to employees and can include the following features:
- Employees can view and update their information
- Employees can view and download plan information such as SPDs, AFNs, and beneficiary designation forms
- Employees can view and download benefit information such as benefit statements or final election forms
- Employees can view defined benefit, defined contribution, Social Security, and other family retirement benefits
- The retirement planning tool allows employees to vary key assumptions to produce alternative "what-if" benefit projections
- Employees can further use the MARC participant website to perform various self-service administrative tasks
- Employees can contact the plan sponsor
Database provides audit trail log, archiving
Features of MARC's powerful database include:
- Storage of unlimited amounts of salary information
- An archive for storing information for former participants
- An audit trail that logs database changes
- Data validation and filtering
- Storage of QDRO information
- Employee transfer/rehire history
- Task tracking and correspondence record storage
On each valuation date, the employer can simply run an export to produce all of the data needed by the plan actuary for valuation purposes.
Reporting with standard or customized options
MARC includes many standard reports, including annual pension benefit statements, participant election forms, data summary reports, management reports, and calculation reports. Customers also have the option of using Crystal Reports® to easily modify MARC reports, or to create additional customized reports. Administrators can preview, print, and store reports electronically for future reference.