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.
Easy access via Internet or intranet
MARC offers both plan administrators and employees the convenience of easy Internet or intranet access to all retirement information. Employees also can view defined benefit, Social Security, and other retirement benefits. The counseling tool allows employees to vary key assumptions to produce alternative "what-if" benefit projections. Employees can further use MARC and the Internet to perform various self-service administrative tasks
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
On each valuation date, the employer can simply send a copy of the database to 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.