blu provides modules for complete fund administration processing, including:

Defined Benefit Retirement Plan

The defined benefit pension module provides all aspects of administering your fund.  This module tracks information used to calculate pension benefits, including cumulative hours, contributions, pension service and vesting credits.  Pension benefit statements can be generated at any time with the estimated benefit with data to date. Benefit payments can also be processed in this module via ACH/direct deposit or check printing.  Complete tax reporting capabilities are included as part of this module.

Defined Contribution Retirement Plan

The defined contribution retirement plan module tracks member contributions, benefit payments and member balances.  This module contains a process to allocate net investment income/expense to member balances.  For funds utilizing a third party administrator (TPA), contribution transfers can be processed electronically.  Benefit payments are processed in this module via ACH/direct deposit or check printing.  Complete tax reporting capabilities are included as part of this module.

Health and Welfare Plan

The health and welfare plan module is HIPAA compliant and provides complete member eligibility tracking. This module allows for processing and tracking of member COBRA benefits, payments, and self-payments for health insurance. In addition, both taxable and nontaxable benefit payments can be processed. For plans with individual accounts, this module tracks member contributions, benefit payments, member balances and includes a process to allocate net investment income/expense to member balances.

Vacation and Savings Plan

The vacation and savings plan modules track member contributions and balances.  Vacation/savings benefit payments made or transferred are processed in this module.  Benefit payments can be made via ACH transfers or by check.