PensionPro 2.0 - 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

  Note: Some items may not be available in all tiers.

 

Menu:

Global Fee Schedules

 

Adding Fee Schedules to a Plan

 

Distribution Fee Schedules

 

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 Navigation Panel click Maintenance > Preferences > PensionPro and select Fee Schedule from the menu.
  2. Click the Add icon in the upper right corner of the grid and enter a Template name in the Add/Edit Template pop-up menu.
  3. Open the template and click the Add icon in the upper right corner of the grid and complete the information in the Add Fee Schedule Item 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 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 Navigation Panel click Maintenance > Preferences > PensionPro and select Fee Schedule from the menu.
  2. Choose the target template to edit by hovering over the template and clicking the Edit icon.
  3. Edit the Name in the Edit Template pop-up menu.
  4. Fee Schedule Items appear in the grid after double-clicking the Template. Drag and drop the items to reorder them. Click the Edit icon 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.
  5. Users can click the Fee Schedule Template Breadcrumb text above the grid to return to the Fee Schedules list.

 

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 by clicking on it once to highlight it.
  2. Click the More icon  located in the upper right corner of the grid and select Copy
  3. Add a new Name in the Copy Template pop-up menu. The Template and the Default Fee Schedule Items will be copied.

 

Deleting Fee Schedule Items

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

  1. Double-click the template.
  2. Click the Delete icon for a Fee Schedule Item.
  3. A Delete Fee Schedule Item pop-up menu will appear asking "Do you want to delete this fee schedule item?" Click Yes to delete.

 

Adding Fee Schedules to 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 to a Plan

  1. Open the Plan and click Fee Schedules from the menu on the left.
  2. Click the Add icon and an Add Fee Schedule pop-up window will appear.
  3. The system allows the user to either copy from an existing Fee Schedule or to copy from a template. Click either Copy From an Existing Fee Schedule or Copy From a Fee Schedule Template and complete the rest of the information.
  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 the Edit icon.
  5. Change the status and click Save.

 

Editing a Plan Fee Schedule 

  1. Open the Plan and click Fee Schedules from the menu on the left.
  2. Hover over the fee, click the Edit icon, edit the information and click Save.
    • To edit the underlying Items, double-click the Fee Schedule to display the Items. Hover over the Item, click the Edit icon, 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 Plan Fee Schedule 

  1. Hover over the fee and click the Delete icon.
  2. "Are you sure?" will appear.
  3. Click Yes to delete the Fee Schedule.

Note: Plan Fee Schedules cannot be deleted if the Status is set to Close. 

 

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.

 

Creating an Association Rule

  1. From the Navigation Panel, click Maintenance > Preferences > Distribution and then click Association Rules.
  2. Click the Add icon and an Add Association Rules pop-up window 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 the Plan Types, Reasons and click Save.

 

Editing an Association Rule 

  1. From the Navigation Panel, click Maintenance > Preferences > Distributions and then click Association Rules.
  2. To edit the Rule, hover over the Rule and click the Edit icon.
  3. The Edit Association Rules pop-up window will appear.
  4. Edit the information and click Save.

 

Deleting an Association Rule 

  1. Hover over the Rule and click the Delete icon.
  2. "Are you sure?" 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 one 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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