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Creating and Using Fee Schedules

By creating Fee Schedule Templates in PensionPro, users can manage their Fee Schedules on a global scale. By adding Fee Schedules in the Plan Details, the user can customize the Fee Schedule Template to the individual Plan. This is a great way for employees to see the current fee structure for clients.  Historical Fee Schedules can be viewed as well.

Tier Availability: Essential, Premium, Team, Business

Security Rights Required: Add/Edit Fee Schedule

 

Global Fee Schedules

The user must first create a global fee schedule in PensionPro. Once that is completed, then the fee schedule can be attached to a Plan.

Creating a Fee Schedule

  1. From the Applications menu click on Maintenance > Preferences > PensionPro and click on the Fee Schedule tab.
  2. Click on the Add button next to the Template field and enter a Template name in the Add/Edit Template pop-up menu. 
  3. Click on the Add button to the right of the Default Fee Schedule Items grid and complete the information in the Add/Edit Fee Schedule Menu pop-up menu.
    • Fee Type, Fee Amount Type, Fee Frequency, Fee Payor, Fee Payment Source, and Category are all list values.
  4. Click Save.

Note: At this time users cannot delete a fee schedule template. This is because templates could be a tied to prior periods and needed for fee calculation. Users can re-purpose the template to a new Fee Schedule template or they can rename the template to "DO NOT USE" to indicate to other users that the template should not be used.

Editing a Fee Schedule and Fee Schedule Items

  1. From the Applications menu click on Maintenance > Preferences > PensionPro and click on the Fee Schedule tab.
  2. Fee Schedule Templates can be chosen from the Template dropdown on the grid. Choose the target template to edit.
  3. To edit the template name, click on the Edit button to the right of the Template dropdown and edit the Name in the Add/Edit Template pop-up menu.
  4. Fee Schedule Items appear in the grid below the Template dropdown. Click the Up and Down arrows to reorder Fee Items. Click the Edit button for the Fee Item to edit it. 
    • Fee Type, Fee Amount Type, Fee Frequency, Fee Payor, Fee Payment Source, and Category are all list values. Click Save.

Copying a Fee Schedule Template

Users can copy a previously created Fee Schedule Templates from the Fee Schedule tab of PensionPro Preferences.

  1. Select a template to copy from the Template dropdown menu.
  2. Click on the Copy button located to the right of the Template dropdown.
  3. Add a new Name in the Add/Edit Template pop-up menu. The Template and the Default Fee Schedule Items will be copied.
  4. Fee Schedule Items appear in the grid below the Template dropdown. Click the Up and Down arrows to reorder Fee Items. Click the Edit button for the Fee Item to edit it. 
    • Fee Type, Fee Amount Type, Fee Frequency, Fee Payor, Fee Payment Source, and Category are all list values. Click Save.

Deleting Fee Schedule Items

Users can remove Fee Schedule Items from templates, leaving only relevant information.

  1. Click on the Delete button for a Fee Schedule Item.
  2. A Delete Fee Schedule Item pop-up menu will appear asking "Do you want to delete this fee schedule item? Yes No" Click "Yes" to delete.

 

Fee Schedules within a Plan

Once the global fee schedule has been created now the fee can be added, edited, or deleted at the Plan level.

Adding a Fee Schedule 

  1. From the Plan Details > Home > General tab, click on the Fees subtab to the left of the screen.
  2. Click on the Add button and an Add Fee Schedule slider menu will appear.
  3. The system allows the user to either copy from an Active fee schedule or to copy from a template. Click on either Copy From Active or Copy From Template and complete the rest of the slider menu.
  4. The system defaults the status to edit when adding a Fee Schedule. To make the Fee Schedule active, highlight the fee schedule that was added and click on the Edit button.
  5. Change the status and click Save.

Editing a Fee Schedule 

  1. From the Plan Details > Home > General tab, click on the Fees subtab to the left of the screen.
  2. Highlight the fee, click on the Edit button, and an Edit Fee Schedule slider menu will appear.
  3. Edit the information and click Save.
    • To edit the underlying Items click on the (+) button next to the Fee Name to display the Items. Highlight the Item, click on the Edit button, and an Edit Fee Schedule Item slider menu will appear.
    • Type, Category, Frequency, Payor, Payment Source, and Amount Type are all list values.

Deleting a Fee Schedule 

  1. Highlight the fee and click on the Delete button.
  2. "Are you sure? Yes No" will appear.
  3. Click "Yes" to delete the fee schedule.

 

Distribution Fees

Distribution fees are created globally the same way as any other fee. See the above instructions for creating a global fee schedule. Once the global fee schedule is created then the fee must be associated with a Plan Type and a Distribution Reason. If an Association Rule is not created then the system will default to the Default Fee Schedule Template. This preference is found in Maintenance > Preferences > Distribution > General tab.

Creating an Association Rule

  1. From the Applications Menu click on Maintenance > Preferences > Distribution and then click on the Association Rules.
  2. Click on the add button and an Add Association Rules slider menu will appear.
  3. Enter a Rule Name, select a Template Name (Project Template), Fee Name (Fee Schedule Template), Field List (Maintenance > Preferences > Distribution > Field Setup) from the drop downs. Click on the Plan Types, Reasons and click Save.

Editing an Association Rule 

  1. From the Applications Menu click on Maintenance\Preferences\Distribution and then click on the Association Rules.
  2. To edit the Rule, highlight the Rule and click on the Edit button.
  3. The Edit Association Rules slider menu will appear.
  4. Edit the information and click Save.

 Deleting an Association Rule 

  1. Highlight the Rule and click on the Delete button.
  2. "Are you sure? Yes No" will appear.
    • Please note that the Default Rule cannot be deleted from the system.
  3. Click "Yes" to delete the Association Rule.

Note: If there is more than 1 Fee Schedule added at the Plan level, then the underlying Distribution Fee must be named exactly the same as the Fee Name in the Association Rule. 

 

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