The Retirement Plan Annual Summary Screen DNAapp creates a new screen in DNA® that allows users to view historical data on Retirement Accounts, such as Balances, Contributions and Distributions for prior years. The app can display up to 7 years’ worth of historical data from the current date, and all balances will be as of December 31 in the selected years.
The Retirement Plan Annual Summary Screen DNAapp allows both front and back office staff quickly access summary level retirement account data to address member/customer, staff or auditor requests. The data is summarized by calendar year and is available for 7 years prior to the current date.
To access this data without this app, users would have to look to prior years reports in order to find the year end balances. This process would be manual and a separate report for each year. There is no central location for users to find 7 years data.
By summarizing this information on a single new screen, this DNAapp will save you time, provide better service to your customers/members, and allocate your resources more productively.