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Your Expert Benefit Payment System

PAYMENTS . ADJUSTMENTS . REPORTING

Lynchval is pleased to present LVpacs, newest product in Lynchval’s extensive suite of benefit tools called LVxact. LVpacs is a powerful payment processing tool, flexible enough to handle all your benefit payment requirements in an automated and user-friendly process. The LVpacs payment processing system can be integrated with LVadmin or used independently with any other benefits administration software, to create, maintain and track benefit payments.

PLAN TYPES

Accommodates both Traditional and Cash Balance Plans.
Supports both Qualified and Non- qualified plans.

PAYEE TYPES

Tracks benefits for retired, disabled, terminated vested or active participants.

PAYMENT TYPES

Calculates payments for all normal and optional forms, including joint & survivor annuities, modified cash refunds, social security leveling and pop-up annuities.
Automatically adjusts payments as necessary upon the death of the retiree or beneficiaries.

INTUITIVE DISPLAY

Payees are grouped by status (Active, Retired, Terminated Vested).
Beneficiaries and Alternate Payees are associated with the appropriate benefit.
Multiple Beneficiaries and multiple Alternate Payees can be associated with each benefit.

NET PAYMENT CALCULATION

Benefit amounts are calculated for participants, benefi-ciaries and alternate payees in one automated process.
Fees and deductions are applied as assigned by the Plan.
Federal and State taxes are calculated.

PAYMENT ADJUSTMENTS

Allows entry of a one-time payment which will be added to the participant’s next scheduled payment.
Allows a permanent adjustment by dollar or percent to be made at the Plan or Benefit level.
Enables the recovery of inadvertent overpayments.
Collects garnishments

PAYMENT ADJUSTMENTS

A history of all payments by benefit or participant is displayed on screen, searchable by date range.
Detailed history of deductions and taxes is displayed with one mouse click.
A searchable history of adjustments is also displayed.

Lynchval Systems Worldwide Inc. provides and supports LVxact, the most comprehensive, technologically advanced pension, OPEB product and service suite available on the market today.

LVxact expert actuarial solutions suite

PRODUCTS

LVval for pension valuation

LVmed for OPEB valuation

LValm for asset liability modeling

LVadmin for defined benefit administration

LVcomply for 401(a)(4) cross testing

LVpacs for pensions accounting and control

LVobj for administrator / participant interface

LVdc for defined contribution

CONSULTING SERVICES

Service Bureau

Technology Consulting

Web Hosting

OPEB-FAS / GASB

Pension Actuarial

Plan Conversion

NEWS

The Governmental Accounting Standards Board (GASB) Q&A

PRODUCT REQUEST

You can make an online request to buy this product....