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Empower Benefits Management

The Empower Benefit Management Solution saves countless hours for Human Resource and Benefits professionals by eliminating stacks of requests and piles of paperwork. It also decreases the costs associated with managing a geographically diverse work population. With Empower's Benefit Management Solution, employees can use the Employee Self Service portal to review benefit information whether in the office or at home on their own PC eliminating the need to contact their internal HR/Benefits professionals. Corporate, individual, and global benefit management allows for company benefit costing reports and individual benefit statements for flexibility and up to date management reporting. When combined with Empower’s HR and Open Enrollment Solution, the Benefits Management Solution provides a powerful, secure, and complete benefit management tool.

Feature Highlights Include:

Flexibility:

  • Manage a virtually unlimited number of benefits
  • All types of benefits supported: Health and Welfare, Deferred Compensation, Hours Accrual

Integration:

  • Benefit changes automatically update Deductions
  • Custom interfaces to major benefit administrators*

Accuracy:

  • Hour benefits accrue based on client definitions, and are reduced through payroll earnings automatically
  • Benefit updates drive deduction updates, eliminating manual update errors
  • Date-sensitive benefit costing allows update of benefits for new plan year while continuing to process current year benefits at current rates
  • Track benefit dependents/beneficiaries based on contact details

Customization:

  • Benefit eligibility based on client rules
  • Cost banding based on individual plans
  • Deferred Compensation match programs

Compliance:

  • Limit employee contributions to Deferred Compensation plans based on IRS and company guidelines
  • 401(k) Compliance reporting*
  • Cost reporting to audit benefit carrier billing

Product Benefits:

Employees can easily...

  • …elect Defined Contribution plans such as 401(k) or ROTH to deduct a percent of pay or specific dollar amount
  • …access personal information and benefit plans online*
  • …electronically enroll in a rules-based system that allows only eligible selections to be made, reducing costly errors*
  • …access benefit information and make benefit selections from any computer using the web, allowing employees to confer with family members in the privacy of their home during enrollment*
  • …update or add contact information to change dependent and beneficiaries on benefit plans all within the open enrollment process*
  • …check vacation and time off balances through check stubs and through Employee Self Service*

Enabling Managers & Administrators to...

  • …automatically add benefits upon new hire based on a profile and eligibility of specific plans
  • …distinguish which dependent is covered under which plan
  • …audit benefit carrier bills using benefit costing reports
  • ...set up unlimited Benefit Plans
  • …establish limits for Defined Contribution plans that account for multiple plans such as 401(k) and ROTH
  • …Administer Group Term Life benefits and other Imputed Income plans to process taxable earnings
  • …easy additions of benefit cost tables for changes and tracking premiums from year to year
  • …administer multiple vacation or paid time off plans based on hours, pay period, monthly, quarterly, and annual accrual option
  • …reduce data entry when benefits automatically create and update deduction records
  • …easily create benefit costing using annual salary, benefit amounts, or age banding for different types of benefit plans
  • …define tiered company matching for Defined Contribution plans

* - Separate modules required.