Newsletter download

 Previous newsletters
Planning to Convert Life or Annuity Business to a New Administration Platform
Designing for Contract Self-Servicing — How Much Regulatory Detail is 'Enough'?
Impacts of Tax Cuts and Jobs Act on Life and Annuity Administrative Processing
Will We Soon See A New Form of 'Hardship Withdrawal' Exception?
Welcome News — US Treasury Provides Clarity for Longevity Annuities within Retirement Plans
Everything Is the Same — Until it Isn't
The New MyRA — Keep It Simple, Sam
A Deferred Income Annuity — a Win-Win Solution
A New Opportunity for 1035 Exchanges?
Obama Proposed Budget Changes will Impact Your Qualified Contract Administration
Necessary Premiums Test Concept sounds so simple — But is it?
A New Option for Roth
The Tax Man Cometh...
A Financial Services Transactions Tax Is Looming — Are You Ready?
IRS Further Liberalizes Annuity Partial Exchange Rules
Partial Annuitization — It's About Time
US Federal Regulatory Impacts on Life Contract Administration Software Sales


Hamilton Smith Associates Inc. provides a unique offering: The Annuity Business Process and Compliance Program. This program has three phases that together offer comprehensive support to achieve well-designed administrative software for annuities.

During the last few years, our Business Analysts have developed an integrated approach to annuity descriptive practices. This program will enable software developers to provide superior individual annuity support that offers holistic design targeted at operational effectiveness and efficiency.

  • Phase I: Operational Assessment. Our consultants will provide a one-time, fixed price, operational assessment of the 'state of current compliance' of your existing software solution for annuities administration. The result of this engagement is a findings document that outlines areas where administrative support should be enhanced to achieve a current state of recommended compliance.
  • Phase II: Delivery of our newly released "Annuity Business Process Guide." This Guide defines administrative best practices for regulatory compliance required for both deferred and immediate annuities, and includes non-qualified, traditional IRA, Roth IRA and 403(b) variations. Detailed calculation samples are provided for calculating gain or earnings and resulting 1099 reporting requirements. Samples of 5498 completion based on service scenarios are also included. This 600-page Guide includes hundreds of annuity processes within 39 individual specifications with supporting flow charts and over 180 use cases.
  • Phase III: Custom Design. We will work with your software architects and programmers as they use the" Annuity Business Process Guide" to develop and enhance your software. We are available throughout this time to help them understand the attention required to maintain regulatory and compliance vigilance through excellent software development and design.

Interested? Please see Contact Us page for details.



© 2020 Hamilton Smith Associates | All Rights Reserved.