CPAS Version 5 calculates and tracks several types of fees including:
Administration fees (IMFs, Record keeping, Custodial, and Transaction fees)
Disbursement fees (Cash or specie)
Sales charges (Front/Back end loads)
Different fee rules can be assigned to each client, plan, or fund. When the system calculates the charges to be invoiced to the client, a statement is automatically provided. Also, multiple levels of taxation can be applied to the calculated fees.
Multiple fee schedules for Administration fees (IMFs Investment Management Fee, Record keeping, Custodial, Investment Fees, etc.) can be set up at the global level and used at the client, plan or fund level. For more information, see Global Administration Fees.
At all levels, fees are calculated, charged either to the employer or member, and distributed to the appropriate accounts via a fees batch process, using any of the following methods:
Prorated based on members' fund balances
Total fees distributed to specified funds or sources
Flat dollar amount for user-defined transaction types
For more information, see Plan Fees.
Flat dollar amount disbursement fees can be defined at the global level for both cash and specie disbursements. For more information, see Global Disbursement Fees.
Fund-level or deposit-level sales charges (immediate or deferred) can be set up at the global level under Fund Setup. For more information, see How to Add a New Fund.
CPAS Version 5 calculates and tracks commissions based on:
User-defined Commission Types
User-defined Cash Flow Definitions
User-defined Commission Scales
Commission Calculation Methods
User-defined Agencies and Agents
Note:
An agency can have one or more agents
Each agent is assigned a commission schedule for commission calculations.
A plan can have one or more agents.
A plan can give more than one type of commission.
At the global level, the system allows you to define an unlimited number of commission types.
Commission rules can then be defined in term of commission types.
At the plan level, plan administrators indicate what type of commissions a plan pays.
Commissions are calculated based on cash flow.
For different types of commissions, the user selects which transaction types to include for cash flow calculations.
At the global level, the system allows you to define an unlimited number of commission rate tables (scales).
Commission rates can be flat or graded.
Minimums and maximums can be set up.
The following three calculation methods are supported:
Lifetime: Commission is calculated on cash flow accumulated from plan inception.
Current Year: Commission is calculated on cash flow in the current year
Current Period: Commission is calculated on cash flow within a specified period
At the global level, the system allows you to define an unlimited number of agencies.
For each agency, an unlimited number of agents may be defined.
Each agent is assigned a commission schedule for each applicable commission type. (Each commission schedule consists of a scale and calculation method.)
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