IRA IS

IRA IS™

IRA IS™ is an economical method of servicing self-directed Individual Retirement Accounts, sole proprietor Keogh Plan accounts, SEPs, SARSEPs, and the new Simple, Roth, and Education IRA's.

IRA IS™ fits the needs of mutual fund management companies, retail bank trust departments, securities brokers, insurance companies and others who administer IRA and Keogh plan accounts.

The system retains transaction history on-line for as long as the user needs it, indefinitely, if desired. On-line transaction history gives the trustee the information needed for superior customer service. It simplifies and reduces the cost of complying with regulations and of meeting the requirements of auditors and examiners.

It provides the data to produce client statements showing contribution, investment, and income detail from the inception of the account if desired. Having the transaction history on-line permits error correction of past transaction without the need to make adjusting entries.

The system's operation is interactive, on-line. Accounts and transactions are immediately accessible to on-line inquiry. Account updates and transactions are posted throughout the day. End-of-day processing is reduced to backing up the files.

IRA IS™ provides for unlimited investments, CUSIP number, ticker symbol and internal department number asset identification, cash sweeps into single or separate funds, automated pricing, automated dividend-interest mapping, statements, retirement checks, multiple trustee processing, multiple department reporting, and many other features.

Contributions may be invested according to portfolio strategies or individually predetermined percentages. The investor can change the spread of invested contributions and earnings across an unlimited number of assets at any time the trustee permits such direction. Assets may be valued at any time, and pricing may be daily. Pricing may utilize an interface with a pricing service.

IRA IS™ prepares the reports needed by department management, statements at any interval, and required forms including 1099-R's and 5498's. The system works with IBM's special report generating products including Query, Menu-driven Natural Language Query, IBM IS/400 Office Vision™ or files may be downloaded into any popular word processing application.