Fixed and Variable Annuity Datasheet

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AT A GLANCE Immediate and Deferred Annuities Fixed, Variable and Equity Indexed Funds Qualified and Non-Qualified Regulatory Compliance FUTUREfirst Fixed and Variable Annuity E X P E R I E N C E . R E S U LT S . Flexible Options for a Diverse Market The U.S. population is aging, but the number of traditional pension programs is
declining. Confidence in Social Security is low. As record numbers of people choose to
retire earlier, its easy to see that the annuity market is poised for tremendous growth. Buyers are looking for diverse options. Conservative investors want guaranteed interest
rates and retirement income. Investors who actively manage their portfolios want a
variety of funds they can trade often. Buyers also want more options for annuities:
guaranteed death benefits, spouse continuation of benefits, no fee products, long-term
care and living benefits features. To compete with banks and mutual funds, companies must respond to these changing
consumer desires and still remain compliant with regulations. FUTUREfirst provides the
regulatory support your company needs, while delivering a highly flexible administration
and payout solution for a wide variety of annuity products. Annuity Products FUTUREfirst provides support for the following annuity products: Immediate and Deferred Annuities
Fixed, Variable and Equity Indexed Funds
Market Value Adjusted Products
Unbundled Annuities
Qualified and Non-Qualified
Stock Transfer Annuities Progressive Features FUTUREfirst provides support for a flexible array of annuity products, which can
include progressive features such as: Long-Term Care
Living Income Benefit
Purchase Bonus
Death Benefit Flexibility
Split Annuities These innovative features leverage the unique object-oriented architecture, the wide
range of supported coverage and investment types, and the unmatched ability to mix
and match features. Comprehensive Product Features FUTUREfirst supports a full range of annuity features, including:
Qualification Types Non-Qualified
Tax Sheltered Annuities
Individual Retirement Accountstraditional, Roth and stretch
Deferred compensation (future)
401(k) (future) Multiple Funds Unlimited funds for a company, plan and contract
Fixed Funds
Variable Funds
Equity Indexed Funds Fund Allocations Product default and contract definition of allocations for investment and disinvestments Options include equal, proportional and designated Interfund Transfers Transfer rules and limits
Flexible definition of charges and fees Automated Transfers Asset reallocation
Dollar cost averaging Required Minimum Distribution (RMD) RMD calculation
Automatic notification
Automated partial withdrawals Annuitant, Owner, Payor and Beneficiary Single and joint annuitants
Multiple owners
Non-natural and custodial owners
Change of owner provisions
Multiple payors
Named and clause beneficiary support Premium Payments, Rollovers and Transfers Single, regular and ad hoc premiums
Direct transfer, internal and external rollovers, 1035 exchange
IRA transfers: traditional to Roth, and Roth to Roth
Tax year designation
Cost basis entry and adjustments
Contribution limit validation
Flexible definition of charges and fees
User-defined premium payment and accumulation term Full Surrenders, Partial Withdrawals and Loans Flexible surrender charge calculations
Full, maximum, gross, net, free and interest only withdrawals
Hardship provisions
Automated/scheduled partial withdrawals
TSA loan support
Flexible definition of charges and fees Annuitization Processing Flexible definition of maturity date - Product default
- Option to override and change at a contract level Flexible options at maturity Settlement and Payout Support Owner and Annuitant Death during Accumulation
Annuity Payouts - Immediate and deferred annuity quotations
- Multiple settlement options - Variable payouts
- Supplemental contracts Annuitant Death during Payout Advanced Commission Support Asset-based commissions
Trail commissions
Commission on annuitization Regulatory Support Premium tax support
Calculation of taxable amount
Government reporting (1099/5498) and withholding
TEFRA compliance
Pre-1987 and 1989 contribution tracking
Post-TAMRA withdrawal prohibition
Early withdrawal penalty and exceptions
Five-year distribution at death The FUTUREfirst Advantage Finally, a completely object-oriented system built from the ground
up that permits real-time customer interaction within an integrated
administration environment. More than 60 insurers worldwide have
given our technology a vote of confidence for its scalability, ease of
use, unmatched flexibility and the superior backing and
commitment of a global IT powerhouse. For more information about the FUTUREfirst solution, call
800.345.7672 or send an e-mail to inforequests@csc.com and refer
to Brochure No. 575. About CSC
Computer Sciences Corporation, one of the worlds leading consulting and IT
services firms, helps clients in industry and government achieve strategic and
operational results through the use of technology. The companys success is
based on its culture of working collaboratively with clients to develop innovative
technology strategies and solutions that address specific business challenges. Having guided clients through every major wave of change in information
technology since 1959, CSC combines the newest technologies with its capabilities
in consulting, systems design and integration, IT and business process
outsourcing, applications software, and Web and application hosting to meet
the individual needs of global corporations and organizations. About CSC in Financial Services
CSC distinguishes itself through its time-tested ability to plan, build and operate
highly reliable, efficient and secure business and IT solutions for leading financial
services firms around the world. To complement its capabilities in consulting,
systems integration and outsourcing, CSC brings financial services industry
knowledge and experience, a comprehensive portfolio of financial services
application software and an extensive network of industry and technology partners.
More than 10,000 CSC employees are dedicated to serving financial services
clients, including more than 1,500 major banks, insurers, healthcare
organizations, and investment management and securities firms. Financial Services Group
Suite #100
200 W. Cesar Chavez
Austin, Texas 78701
+1.512.345.5700
+1.800.345.7672 www.csc.com Copyright

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