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| Pension Fund Management system for a bank: The Bank is a leading financial institution for home mortgages, small business, rural and agricultural loans. An entity of the Bank offered retirement plans to employees. The activities were divided into the Retirement Fund and the Thrift Plan. The Retirement Fund is a tax qualified pension trust whereby federal home loan banks, other financial institutions and affiliated organizations may cooperate in providing for the retirement of their employees. The Thrift Plan is a tax-exempt, trustee savings plan under which eligible employees of the same organizations may save and invest on a regular basis for the long term. Under these categories, the Bbank provides several plans to eligible employees of member organizations, e.g. Defined Benefit Pension Plan, Defined Contribution Pension Plan, Incentive Savings Plan with and without 401(k) option, Profit Sharing Plan, etc. Data is entered into each of these systems via tape, electronic file transfer or manually. Data consists of compensation, hiring, firing and other employee related information for each period. The systems maintain the appropriate databases and produce reports for employers and employees showing status of their various plans, statutory reports to be filed with governing bodies, management reports, ad hoc reports, etc. These systems require on-going maintenance due to changes in business requirements, discovery of bugs and malfunctions, optimizations, legislative changes, etc. Infinix supported these systems in conjunction with the bank's IT staff. Infinix consultants initially performed these functions on the customer's old Unisys B1900 and later converted and/or redeveloped the software for the A3 including developing databases, etc. Subsequently, application support was continued for the new systems on the A Series machines. Top |