MAGNER.NETWORK'S Plan Administration Solution
Our mission is to provide world-class service to non-qualified executive benefit plan administration sponsors and participants, while
deepening the client
relationships for our customers (Financial Institutions and Advisors). This is done through the delivery of accurate,
timely plan
administration, using our state-of-the-art web-based administration tools. Our
role is to provide
record-keeping in conjunction with the relationship that is maintained by the
financial advisor.
Why BenefitWire®?
Scope of Plan Design and Service Capabilities
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BenefitWire® administers non-qualified defined contribution plans,
from the very simple to the
most complex 401k "mirror" plans.
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BenefitWire® administers plans that are financed with corporate-owned
life insurance
(COLI), mutual funds, or both. We also administer un-funded plans.
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BenefitWire® administers split dollar life insurance plans.
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BenefitWire® administers supplemental executive retirement plans.
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BenefitWire® administers both new plans and existing plans.
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BenefitWire® will administer any size plan, subject to minimum fees.
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BenefitWire® administers plans with account valuation on as frequent a
basis as daily, per the
plan design (subject to daily values being available from the asset vendor).
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BenefitWire® also provides a full array of administrative services in
support of Donor Advised
Funds, with direct online access to account balances
Customer Service
We believe that in order to foster a successful administrative relationship, it
is critical to set
reasonable expectations. We
will work closely with financial advisors
to achieve this objective, beginning with the sales process and flowing through
to plan implementation
and beyond.
Simply put, we recognize that we are a customer service division. Our long-term
success depends on
adhering to rigorous customer service standards and maintaining the highest
level of quality in
everything we do.
We have assembled an administrative team that consists of the best
and the brightest in
the industry. An emphasis is placed on mentoring, creativity, and ongoing
support for and from all
team members.
Administrative System Features
The administration systems used by BenefitWire® Plan Administration to
administer non-qualified plans
are powerful, state-of-the-art systems, offering daily account valuation,
unlimited plan accounts
("buckets") and Internet and VRU access for both plan participants and the plan
sponsor.
Benefitfolio™
Benefitfolio™, Benefitwire's® proprietary client communication platform, provides state-of-the-art plan administration services plus
allows both the plan sponsor
and the advisor to communicate with plan participants via the Internet. This
service is typically
bundled with more traditional plan administrative services to provide plan
sponsors and plan participants with a complete plan servicing experience. See
Products and Services Overview for a more complete explanation of the
Benefitfolio™ service. No complex benefit program is complete without the customized communication services provided by BenefitFolio™.
Reporting
For Plan Participants
- Account balances are accessible to plan participants 24 hours a day via the Internet and printed statements are available quarterly at the request of the Plan Sponsor.
For Plan Sponsors
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Under the Standard Package, the corporation receives quarterly plan
liability reporting,
and may access or request reports from the Internet at any time.
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Custom reports beyond those normally provided can be designed. Report
formats may be
customized to need, for an additional fee.
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Historical data from the initiation of plan administration is available.
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All standard reports are accessible online by the plan sponsor 24
hours per day.
To request a fee quote, arrange a demo of the system or to discuss plan
administration, send an email to planadmin@magner.net.
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