Domain-Centric Services |
Benefits Administration |
In a rapidly consolidating industry, Benefit Administrators face the challenge of on-boarding new customers quickly and cheaply on one hand, and of scalability, hiring and retaining trained resources on the other, resulting in escalating servicing cost per participant.
Patni’s Benefits Administration Center of Excellence (CoE) offers an unmatched mix of domain, process and technology expertise to significantly impact the cost per participant for benefits administrators.
Unlike some other players in the industry, our business model is not competitive to Third Party Administrators (TPAs) and record-keepers. Patni is focused on helping TPAs achieve scalability, operating efficiencies and lower cost per participant; we do not service plan sponsors directly.
As TPAs and record-keepers continue to customize their services for employers and progress towards total benefits outsourcing, they will likely be challenged by increasing costs, complexity, and growing technology requirements to manage benefits administration efficiently.
We work as a strategic business partner with our clients and help them deliver cost efficient services to their customers enabling them revolutionize the Human Resources function. |
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| End-to-End Benefits Administration Services |
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Patni has proven experience in designing off-shore roadmaps, conducting consulting assignments, migrating and stabilizing core Benefits Administration processes for clients in a Global Delivery Center framework. For several years, Patni has helped Fortune 500 companies in setting up Shared Services Centers (SSCs) in India to deliver end-to-end Benefits Administration services. By focusing on productivity and efficiency, we enable our clients to positively impact their bottomline.
Patni deals with significant complexity associated with nuances of pension compliance environment, grand fathering, pension calculations, calculation certification, non-qualified pension plans and actuarial valuations. We currently have over 600 trained administrators servicing end to end DC plans, DB plans, Health & Welfare plans. |
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Patni’s Benefits Administration Services Portfolio |
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| Plan Set-Up |
| Implementation |
Calculation |
Coding |
Testing |
| Plan Administration |
| Defined Contribution |
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Data Capture / Document Management |
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Employee Data Management
- Master
Creation / maintenance
- Demographic Changes |
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Rules Set processing
- Distribution / Transfers
/
Loans /
Reconciliation
- QDRO |
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Multi-Process Integration
- Trust Accounting
- Statutory Reporting
(5500)
- Compliance Testing
(NTD) |
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Contact Center |
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| Actuarial Valuations |
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Asset Valuation |
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Liability Calculations |
| Defined Benefits |
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Data capture / Document
Management |
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Employee data management |
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Retirement process
(Active, term vested and retiree) |
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Pension calculation |
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Direct deposit,
Tax election
& address
changes |
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Disbursements |
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Death benefits &
disability |
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QDRO |
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| Health & Welfare |
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Determination & maintenance of
eligibility data |
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Employee benefits enrolment |
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Employee benefits data management |
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Carrier file processing |
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Vendor billing reconciliation |
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Plan administration changes management |
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Regulatory administration & compliance (e.g. HIPAA, COBRA) |
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| Consulting |
| Plan Rules |
Re-engineering |
Investment Services |
Actuarial |
| Managed Services |
| IT Applications / Support |
HR |
Finance |
Helpdesk |
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