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529 pro the art of administrative simplicity sm

presents

529 PRO

The art of administrative simplicity sm


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

529 PRO Processing

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

Features

  • Open architecture and modular approach make the system highly adaptable - once business requirements

    are determined, processing modules (tasks) can specified, developed and implemented with minimal impact

    to the existing system

  • Browser based administrative system with built in on-line enrollment capability

  • Role based data entry process enhances workflow management

  • Flexible, highly functional web interfaces make shareholder self-service a reality. These interfaces can be

    ‘skinned’ to allow for custom look and feel

  • Supports multiple funding methods to promote investment: Check, ACH, payroll deposit and payroll

    deduction (credit card under review)

  • Supports a ‘two track’ investing approach - the Standard Option rolls beneficiary’s through a series of

    investment portfolios based on their age and the Self Directed option which allows the investor to create a

    customized portfolio mix from available investment funds / portfolios

  • Broad system design allows the program to offer myriad investment options, from’ fund of funds’ portfolios to

  • individual mutual fund investment options

  • Integration with Transfer Agency (TA) system platform provides built in access to NSCC trading and

    commission modules - also affords the program the ability to offer A, B and C class investment shares

  • Highly portable system can be integrated with various TA System or record keeping platforms with

    minimal code rework

Confidential and Proprietary

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

Presentation

&

Business Rule Layer

TA

Record keeping

Layer

Enrollments, Transactions & Inquiries viaInternet

direct entry by SHAREHOLDERS,BROKERS, OPERATIONS and DP entities

Contribution Transactions viaFiles

modules for ACH, LOCKBOX, PAYROLL, CREDIT CARD, NSCC, UPromise

Principal Review viaInternet

Data Repair, Transaction Entry, Inquiries, Reports & Files viaInternet

to and from OPS, SALES, & MARKETING Staffs, Interested Parties

Statements & Confirmations for Shareholders

Reports forOps Staffs

Confidential and Proprietary

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

Enrollment Processing models

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

3 Browser Based Enrollments Applications

529 PRO database

529 PRO database

SHAREHOLDERS

TA database

  • data entry interface model

  • Both Retail and Broker Channel Shareholder paper applications using either a pre-processor or “in-house” entry

  • on-line entry screens model

  • Retail (and Broker Channel) Shareholders using on-line entry screens

  • administrative interface model

  • Backup data entry system

Confidential and Proprietary

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

Data Entry Enrollment Application

Business

Rules

Data

Processing

Application

~ business

rules ~

PAPER APPLICATIONS

529 PRO

System

TA

  • capabilities:

  • From paper applications to pre-processing tables via browser based screens

  • Can be used by a pre-processing entity or by “in-house” processors

  • Double key entry/validation and supervisor review by pre-processor is provided – status and role based

  • Business rules are incorporated into the code so that only valid data is allowed to move to the database

  • Error correction queue by administrative staff – status and role based

Confidential and Proprietary

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

On-line Enrollment Application

Business

Rules

Direct

Shareholder

Entry

Screens

~ business

rules ~

ON-LINE ENTRY

529 PRO

System

TA

  • capabilities:

  • Business rules incorporated into entry screens insure only valid data is captured

  • Browser based entry screens allow retail shareholders to enter data directly

  • Browser based entry screens allow broker assisted shareholders to enter directly

Confidential and Proprietary

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

Administrative Enrollment Application

Business

Rules

ADMIN

User

Interface

~ business

rules ~

ADMINISTRATIVE ENTRY

529 PRO

System

TA

  • capabilities:

  • Browser based user interface screens serve as a backup DE system

  • Business rules incorporated into the code

  • Administrative staff use to maintenance any enrollment issues

Confidential and Proprietary

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

Principal Review model

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

Administrative Principal Review Application

Business

Rules

ADMIN

User

Interface

~ business

rules ~

529 PRO

System

REGISTERED

REPRESENTATIVES

TA

  • capabilities:

  • Browser based interface screens allows Registered reps from any location to access the records

  • Registered reps perform principal review for retail or broker channel accounts

  • Applicable sponsor related algorithms are integrated into the module

  • Account approval changes the enrollment record status to allow the enrollment to proceed

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

Contribution modules

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

Contribution Processing Modules

529 PRO database

SHAREHOLDER

CONTRIBUTIONS

TA database

  • capabilities:

  • ACH module

  • Initial and periodic transactions are created and processed

  • Data is warehoused until trade date

  • Pre note processing is performed

  • ACH Debits and ACH Reject Files created & business rules applied

  • Epicware edits are included

  • Coupon Module

  • “Reminder” for shareholders making periodic check contributions

  • Data is warehoused until “reminder” date

  • Facilitates lockbox processing

  • Lockbox module

  • Initial and periodic transactions are processed

  • File is reformatted into contribution transaction & business rules applied

  • Transactions are matched to enrollment data to reconcile

  • Payroll module (push)

  • Periodic transactions are processed

  • Data is warehoused until trade date

  • Preliminary & confirming files insure proper credit prior to funding

  • Transactions are created & passed through business rules

  • Payroll module (pct)

  • File & funding received from payroll entity

  • Data is warehoused until trade date

  • Transactions are created & passed through business rules

  • NSCC module

  • Subsequent transactions are processed

  • Broker initiated NSCC trades are executed

  • Module translates NSCC trade into contribution and fund purchase

  • Transactions are passed through BR’s prior to posting

  • UPromise module

  • Subsequent transactions are processed

  • Accounts are specially flagged to identify

  • Confirming files insure proper credit prior to funding

  • File is reformatted into contribution transactions

  • File is passed through BR’s prior to posting

  • Credit Card module

  • TBD

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

ACH Contribution Module

A wire is sent by the Clearing House to credit the DDA – should balance to the ACH file

DDA

Monthly data updates

Thompson

Financial

EPICWARE

Monthly data updates

REJECT FILES are returned

Pre note failures and

debit rejects are returned

ACH

Module

~ business

rules ~

Business

Rules

Automated

Clearing

House

529 PRO

System

SHAREHOLDERS

ACH FILE is transmitted to the Clearing House and contribution transactions are posted to the tables

Funding instructions

sent by shareholders via enrollment and other processing from all entry points

TA

ACH data is warehoused for processing on assigned trade date(s)

Confidential and Proprietary

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

Coupon Contribution Module

COUPON

Module

~ business

rules ~

Business

Rules

529 PRO

System

SHAREHOLDERS

COUPON FILE is produced and invoices sent to shareholders

Funding instructions

sent by shareholders via enrollment and other processing from all entry points

TA

COUPON data is warehoused for processing on invoicing date(s)

Confidential and Proprietary

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

Lockbox Contribution Module

OPERATIONS

Paper backup is sent to pre-processor and then to operations for retention

A wire is sent to credit the DDA – should balance to CHECK file

DDA

Business

Rules

The flat CHECK FILE file is reformatted into contribution transactions.

The resultant transactions are reviewed using the program’s rules and regulations prior to posting transactions to the tables.

LOCKBOX

Module

~ business

rules ~

529 PRO

System

SHAREHOLDERS

Lockbox

Institution

Shareholders send initial and subsequent contributions to the applicable lockbox institution

A flat file is produced by the lockbox institution

TA

Confidential and Proprietary

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

Paper Processing

Enrollment forms with/without payments

Reoccurring payments

Paper backups (Overnight Mail)

STEP 2

Pre –

Processor

STEP 1

Lockbox

Institution

LOCKBOX

Module

~ business

rules ~

Data

Processing

Application

~ business

rules ~

Daily wire

Business

Rules

529 PRO

System

DDA

Paper backups (Overnight Mail)

ENROLLMENT

records match to

CHECK FILE records to reconcile contribution transactions.

DDA Report

TA

529 Operations

Imaging

Archiving

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

Payroll Deduction Contribution Module

A wire is sent by the EMPLOYER to credit the DDA – should balance to the EMPLOYER file

DDA

Data files are exchanged to insure accurate processing at both entities

PAYROLL

Module

~ business

rules ~

REJECT FILES are

returned to EMPLOYER

Business

Rules

Employer

529 PRO

System

SHAREHOLDERS

EMPLOYER FINANCIAL FILE is transmitted and contribution transactions are created and posted to the tables

Funding Instructions

sent by shareholders via enrollment and other processing from all entry points

TA

PAYROLL data is warehoused for processing on payroll date

Confidential and Proprietary

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

Credit Card Contribution Module

A wire is sent by the Credit Card Company to credit the DDA – should balance to the CREDIT CARD FILE

DDA

Credit Card

Module

~ business

rules ~

Credit

Card Company

Business

Rules

Contribution transactions are created

Rejects are returned

529 PRO

System

SHAREHOLDERS

CC FILE is transmitted to Credit Card Company

Funding Instructions

sent by shareholders via enrollment and other processing from all entry points

TA

CC data is warehoused for processing on trade date

Confidential and Proprietary

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

UPromise Contribution Module

A wire is sent to credit the DDA – should balance to UPromise file

DDA

Data files are exchanged to insure accurate processing at both entities

Business

Rules

The financial file is reformatted to create contribution transactions.

The resultant transactions are reviewed using the program’s rules and regulations prior to posting transactions to the tables.

UPromise

Module

~ business

rules ~

529 PRO

System

SHAREHOLDERS

UPromise

Program

Shareholders

accumulate

credits in their

UPromise Program

A flat file is produced by UPromise

TA

Confidential and Proprietary

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

NSCC Processing

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

NSCC Contribution Module

DDA

The payment is made

NSCC module translates NSCC special trade into a contribution – and subsequently the funds are purchased and the funds reconciled

Business

Rules

NSCC

Module

~ business

rules ~

529 PRO

System

SHAREHOLDERS

Broker

Shareholders place a trade with broker from funds deposited in brokerage account

Broker purchases shares via NSCC

TA

NSCC

Confidential and Proprietary

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

NSCC Processing

529 Institution

National

Securities

Clearing

Corp

Price/Dividends

Orders

FUND

Confirmations

Position Information

Price/Dividends

Orders

Confirmations

Settlement

Price/Dividends

Trustee

Position Information

Orders

Confirmations

Settlement

Position Information

Confidential and Proprietary


529 pro the art of administrative simplicity sm

NSCC – Commission Settlement Services

Overview

  • Commission Settlement is the most efficient method of accurately reporting fund commission information to financial services firms. Using a standard format in NSCC's centralized processing environment, the service supports all types of fund commissions including Contingent Deferred Sales Charge (CDSC) payouts, 12b-1 fees (or trail commissions), or other types of payments. Settlement occurs through NSCC's settlement system.

  • Commission Settlement is accessible via CPU-to-CPU links, or through PCWeb Direct - a Web interface that allows NSCC participants direct access to NSCC services over the Internet. Transmissions are limited to no more than two hours per file.

  • Commission Settlement is a service offering of National Securities Clearing Corporation, the nation's leading provider of centralized clearance, settlement and information services to more than 2,500 brokers, dealers, banks, mutual funds, insurance carriers and other organizations. NSCC develops standardized, automated solutions that promote connectivity, efficiency and lower risk in the financial services marketplace. NSCC is a subsidiary of The Depository Trust & Clearing Corporation (DTCC).

    Benefits

  • Expedites the distribution and settlement of fund commissions

  • Simplifies the reconciliation process by providing standardized formats for the exchange of records between funds and firms

  • Reduces costs associated with manual processing of commission payments

  • Accommodates single-batch processing

  • Consolidates money settlement with other NSCC activity

    How the service works

  • Input from FundsSingle-batch files are sent to NSCC for processing by 10 a.m., Monday through Saturday.Errors can be corrected through a reversal of the transmission by the fund.

  • Output to FirmsTwo single-batched files of detailed and summary commission data are sent to firms after 11 a.m., Monday through Saturday.

  • SettlementSettlement for commission files transmitted to NSCC by 2 p.m. occurs the following day. One day prior to settlement date, the NSCC notifies both fund and firms of their commission settlement obligation. Commissions are netted with other mutual fund/clearing corporation activity at the end of the day, and settlement takes place in Fed Funds.


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

Inquiry modules

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

On-line Inquiry Application

Retail

Screens

~ business

rules ~

SHAREHOLDERS ON-LINE

  • capabilities:

  • View transaction history

  • View all displayed data

Business

Rules

Sponsor

Screens

~ business

rules ~

529 PRO

System

SPONSORS ON-LINE

  • capabilities:

  • Client transaction history

  • Sales reporting

  • Commission detail

TA

Admin

Screens

~ business

rules ~

ADMINISTRATORS ON-LINE

  • capabilities:

  • All 529 processing and historic information

Confidential and Proprietary

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

Maintenance modules

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

On-line Maintenance Application

Retail

Screens

~ business

rules ~

SHAREHOLDERS ON-LINE

  • capabilities:

  • Change demographics, confirm delivery, password

  • Change funds, allocations

  • Add beneficiaries, programs, funding, contributions

  • Cancel funding

  • Request distributions

Business

Rules

Sponsor

Screens

~ business

rules ~

529 PRO

System

SPONSORS ON-LINE

  • capabilities:

  • Change demographics

TA

Admin

Screens

~ business

rules ~

ADMINISTRATORS ON-LINE

  • capabilities:

  • All 529 processing

Confidential and Proprietary

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

Distribution Module

Retail

Screens

~ business

rules ~

Distribution

Module

~ business

rules ~

on-line

SHAREHOLDER

REQUEST

DP

Application

~ business

rules ~

Business

Rules

paper

529 PRO

System

  • capabilities:

  • qualified and non-qualified

  • only aged contributions eligible

  • check to shareholder, university or

  • beneficiary

  • confirmation to shareholder

  • or

  • ACH credit to university

  • confirmation to shareholder

Admin

Screens

~ business

rules ~

TA

any

Confidential and Proprietary

Confidential and Proprietary

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

Reallocation Module

Retail

Screens

~ business

rules ~

Reallocation

Module

~ business

rules ~

on-line

SHAREHOLDER

REQUEST

DP

Application

~ business

rules ~

Business

Rules

paper

529 PRO

System

  • capabilities:

  • ability to reallocate across investment tracks

  • reallocations maintained within share class

  • share lot and tax lot information detail is maintained

  • one per calendar year rule enforced

  • confirmation to shareholder

Admin

Screens

~ business

rules ~

TA

any

Confidential and Proprietary

Confidential and Proprietary

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

Output modules

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

Output Module

529 PRO database

Sponsor

Daily

Output

File

Module

~ business

rules ~

Broker

TA database

  • capabilities:

  • Operational reports

  • Statements

  • Confirmations

  • Daily Activity File

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

Shareholder Service model

Confidential and Proprietary


529 pro the art of administrative simplicity sm

529 PRO

The art of administrative simplicitysm

Shareholder Service Processing

Shareholders

via mail and E-mail

Shareholders

via VRU

Shareholders

via Telephone

Brokers

via Telephone

Research questions

Research responses

E-mail system

Broker Support

model

529 Web Center

VRU

AT+T

Language line

E-mail system

archives

Recording

archives

  • 529 Plan Representatives

  • Respond to shareholder telephone inquiries

  • Respond to shareholder email inquiries

  • Broker Support

  • Calls WebCenter with questions

  • Licensed Brokers

  • Respond to broker trade and investment questions

  • Respond to broker commission questions

Business

Rules

E-mail system

529 PRO

System

529 OPS

TA

Confidential and Proprietary


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