Phoenix performs share sub-accounting by money source for all Direct Financial Activity. Unidentified transactions, data errors, out of balance transactions or any anomalies are identified and resolved. Dynamic transactions, i.e. loan distributions, termination distributions are processed as received. Account Master Position file that details shares of record for each participant at month end. Phoenix verifies that Phoenix cumulative share positions match the mutual fund Account Master Position file.
Phoenix performs monthly reconciliation and accounting for all activity.
Accounting is both cash and accrual based. In the event the TPA can not accept e-mail, a protocol will be established. The TPA prints all reports at the TPA's office using Phoenix report generator software. Target Clients of The Phoenix System Small to mid size 401k plan - The Phoenix System brings large plan features to the small plan market. Our target client is the 25 to 300 life plan.