Press Release Summary:
Suited for insurance providers with retirement plan focus, TRACÂ® recordkeeping platform accommodates traditional annuity products as well as suite of common mutual fund investments. Supported attributes of annuity offering include multi-tier annuity unit pricing, guaranteed interest contracts, and complex annuity distribution rules. Service also enables integrated processing and recordkeeping for all types and sizes of defined contribution plans.
Original Press Release:
DST Targets Insurance and Annuity Retirement Providers
System Enhancements Underscore Commitment to Retirement Market
KANSAS CITY, Mo., Jan. 31 / -- To advance the success of insurance providers competing in the retirement plan arena, DST Systems, Inc. has enhanced its TRAC(R) recordkeeping platform to accommodate both traditional annuity products and the suite of common mutual fund investments.
TRAC now supports the attributes of an annuity offering, including multi- tier annuity unit pricing, guaranteed interest contracts and complex annuity distribution rules. The enhancement enables insurance product providers to leverage the robust recordkeeping capabilities of TRAC, which offers integrated processing and recordkeeping for all types and sizes of defined contribution plans.
"Insurance firms that have historically relied on internal solutions for retirement recordkeeping and processing have begun to look to outside technology providers," said Bob Wuelfing, president, RG Wuelfing & Associates. "TRAC's recent enhancements position DST well to provide a technology solution for most insurance providers."
"DST is committed to helping our retirement clients manage IT costs and meet the challenges facing providers today," said Jim Walsh, vice president, DST Systems. "TRAC is positioned to help retirement providers of all kinds focus on their key competencies-product development and distribution, as well as service quality-while leveraging DST's core technology strengths."
DST Systems, Inc. (NYSE:DST) provides sophisticated information processing and computer software services and products that help clients improve productivity, increase efficiencies, and provide higher levels of customer service. DST is organized domestically and internationally into two operating segments: Financial Services and Output Solutions. DST operates one of the most advanced data centers in the world, which provides information- processing services to support the products within each operating segment. These products are further enhanced through the integration of DST's advanced technology and e-commerce solutions.