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Defined Contribution / 401(k) System Review

3

·

Very good

Revainrating 4.5 out of 5  
Rating 
4.7
HR, 401(k) Software

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Description of Defined Contribution / 401(k) System

Retirement Plan Software is a benefits administration software that handles all types of DB and DC plans including daily valuations and web access.

Reviews

Global ratings 3
  • 5
    2
  • 4
    1
  • 3
    0
  • 2
    0
  • 1
    0

Type of review

Revainrating 4 out of 5

DCC is an easy to use tool for tracking employee retirement savings

The ability to create multiple accounts for different departments within our organization, allowing us to track retirement savings separately from other corporate funds in order to meet compliance requirements with ERISA regulations. I wish there was an option to have separate contributions made by each department rather than having them lumped together. This would allow you to more easily identify which employees are contributing towards their own plan versus those who contribute into…

Pros
  • The fact that we were able to group our employees in various departments and track contributions separately from the main company account allowed us to meet certain compliance requirements
Cons
  • The inability to add custom formulas into the program for calculating certain variables (such as age) that would have helped streamline contribution calculations

Revainrating 5 out of 5

Great Solution For Retirement Accounts + Payroll

I like how easy it was to setup, configure everything for my employees retirement accounts as well their payroll system integration with this product! The UI could use some work but nothing too major or big deal either way in regards to its functionality once configured correctly which you should be able to do very quickly if your familiar enough w/ ERP systems already (such has SAP). We have been using XRS since we started our business so there wasn't anything specific about switching over…

Pros
  • It works fine without much issue really although perhaps more webinar trainings would benefit users especially new ones who might need guidance through certain aspects? There needs improvement here also regarding ease of access via website interface itself rather than simply being linked
Cons
  • It is hard to say

Revainrating 5 out of 5

Extremely user friendly - Makes managing your finances simple

The best part about Defined Contribution / 401k System is the ease of use. The company has always been extremely helpful in answering any questions I may have. I have never received a phone call or e-mail after signing up to request any information. It is a great product and I highly recommend it. The only thing I dislike is that you can only use the system so long as you are paying monthly fees. So, if you do not have the money to pay monthly fees, you are stuck. I would highly recommend this…

Pros
  • Very organized with user friendly features.
Cons
  • Nothing