FRB Web Integrated Solution HR Specialists and employees have access to see and/or use the same data, forms, and "what-if" scenarios. The periodic (bi-weekly) data download, if implemented, is a custom feature allowing salary history from the agency personnel or payroll system to be available in FRB Web Integrated Solution. This feature enhances the retirement estimate as it is based on "real-time" payroll data. Projected salary changes can also be entered. Data used in the retirement calculation such as service history is automatically available on the proper forms, without additional keystrokes. In addition, FRB Web Integrated Solution has a new interface for employees to obtain quicker and easier access to estimates. With a few clicks of their PC mouse, employees are able to obtain certain estimates of retirement and other benefits at the earliest date of eligibility. Employees who opt for the benefits statement enter only a few items of information. Using employee inputs, as well as data from personnel and payroll systems, FRB Web generates a comprehensive benefits statement that provides estimates of benefits in one report, including retirement annuity, disability benefits, death-in-service benefits, TSP benefits, life insurance benefits, and health insurance benefits. FERCCA Calculator Some features of EconSys’ FRB© Web with FERCCA include: •      When the employee has choices of retirement coverage, the         retirement benefits under each coverage choice are displayed,         side-by-side, for the retirement year and three later periods. •      A net present value statistic is shown for each optional coverage. •      FRB applies the special FERCCA rules for actuarial reductions for         unpaid service credit deposits. •      FRB displays the quantitative effects of make-up TSP contributions         and government matching with their associated lost earnings. •      FRB enables the computation of the special rules for actuarial         reductions that apply to previously made “deemed” FERS elections. Top of Page Back to Products Financial Benefit Maximizer (FBM) The goal of FBM is to help you evaluate your financial health today as well as in the future so that you can make informed decisions about how you should manage your money. The goal is to achieve a balance among future income, expenses, and financial assets. Income is an annual flow of money that is used to support living expenses and build up assets. Assets are calculated as a lump sum of financial value that converts into income during retirement, disability, or death of a spouse. Disability benefits and life insurance provide replacement income in the event of disability or early death of a spouse. FBM allows the user to examine different types of what-if scenarios. For example, it provides financial planning scenarios whereby the user specifies: •      Varying retirement ages for both spouses          (retirement ages need not be the same for both spouses) •      Varying ages of disability occurring for either spouse •      Varying ages of premature death occurring for either spouse For each type of scenario, the user specifies the desired level of income replacement during retirement, disability, or premature death of a spouse. The program then calculates the financial shortfall as the difference between desired income and achievable income through the age of life expectancy. In the case of retirement, the program enables the user to determine the savings rate needed to achieve the desired income level. In the case of disability, the user provides the year the disability occurs and how long it will last. The program then shows how well the person’s disability benefit meets the financial requirement and associated cost of the benefit. In the event of death, the program shows the effect of a given amount of life insurance benefit and associated premiums. Top of Page Back to Products