2015 March Enhancement Release Dates (subject to change) Test Thursday, February 19th Turnover Times (all ET): APP/SUB - 4pm COM – 4pm FAR – 4pm IFT – Start of business February 20th LNA – 4pm POV – 4pm PMP – Start of business February 20th STL – 4 pm Production Thursday, March 19th Turnover Times (all ET): APP/SUB - 6pm COM – 6pm FAR – 6pm IFT – Start of business March 20th LNA – 6pm POV – 6pm PMP – Start of business March 20th STL – 6pm Submitting Firms: Any files submitted after the times listed above will be edited based on March 2015 Release changes. Receiving Firms: Times listed above are the last cycles that the files will be received in the old format. Enhancement Changes APP/SUB – Initial Application & Subsequent Premiums IPS00469– APP/SUB – Modify Rate Indicator Edit (Optional) Rate lock functionality is used for several Index products and an actual rate is not being captured. Also the rate captured for fixed products can be manually entered by the Financial Advisor and anything can be input, so the carrier does not apply the rate that is being passed, they apply the rate(cap rate) they were offering at the rate lock submit date.
IPS00488 – IFT (VI) – Increase Number of Sub Accounts (Optional) Increase the allowable number of Sub Accounts on the Values Inquiry (212) Response from 100 to 999. LNA – Licensing & Appointments IPS00468 – LNA – Add Product Training Code (Optional) There is an industry need to report Life as a product training category. Add new code to the Product Training Category Code List #6713 U – Life Edit: If TU transactions then either Product Category or at least one occurrence of Product CUSIP - 1 (6713) is required. 6713 and 6714 are mutually exclusive. For all other transaction types - spaces are allowed. Add new code to the Vendor Producer Training Record Layout, Product Training Code List U – Life Training Category, U – Life will be stored in Producer Management Portal with the ability for participants to retrieve this new data. IPS00482 – LNA – Add New Course Type (Optional) There is a need to report when someone has completed an Anti-Money Laundering course. Add new code to Course Type Code List#6703 A – AML Training Edit: Course Number required if A – AML Training is populated. Add new code to the Vendor Producer Training Record Layout, Course Type Code List A – AML Training Store additional Course Type, A – AML Training, in Producer Management Portal and add functionality for participants to retrieve this new data. IPS00481 – LNA – Add TU Initial and Ongoing Indicator (Optional) The TU transactions layout currently does not have a field dedicated to indicate whether a State specific Annuity Course meets the ‘Initial’ training or ‘Ongoing’ training requirements outlined by a state Department of Insurance.
IGR - Current Guaranteed Income Base Amount- Roll-Up IGS - Current Guaranteed Income Base Amount- Step-Up IMW - Current Guaranteed Monthly Withdrawal Amount WPN - Current Protected Payment Base Amount - Non-Declining WPD - Current Protected Payment Base Amount – Declining WAN - Current Protected Payment Amount - Non-Lifetime WAL - Current Protected Payment Amount – Lifetime TAN - Total Annual Protected Payment Amount - Non-Lifetime TAL - Total Annual Protected Payment Amount - Lifetime These descriptions can also be found on the draft record layout. IPS00483 – POV – Add Contract Value Qualifiers (Optional) Symetra is implementing an Enhanced Death Benefit rider. When this rider is sold on a contract with a Joint Annuitant, the clients may choose the Covered Life for the Enhanced Death Benefit. In this type of sale, depending upon which Annuitant dies, the Enhanced Death Benefit may apply. Add new codes to Contract Value Qualifier Code List#3102 ADB – Death Benefit Annuitant Dies JDB – Death Benefit Joint Annuitant Dies These values will be provided if the contract has multiple annuitants, and if the death benefit value varies depending upon which annuitant dies. IPS00486 – POV – Increase Contract Event Looping (Optional) The Contract Event Record currently has a limit of 2 occurrences per contract and can hold max of 5 events in each record. Only 10 events can be sent in the position file for a contract. SunAmerica has instances when they receive more than 10 checks (contributions) for specific contracts on the same day. The current limit of reporting contributions in 1307 record is 10. If more than 10 contribution data sent in the 1307 record it gets rejected with the reject code ‘Loop limit exceeded’. Also in case of reverse and reprocess scenario when the policy has more than 10 financial transactions then this limit can be easily reached. Increase the looping of the Contract Event Record 13/07 from 2 occurrences per contract to 9 occurrences per contract.
Store additional Course Type, A – AML Training, in Producer Management Portal and add functionality for participants to retrieve this new data. STL – Settlement Processing for Insurance IPS00474 – STL – Add Trans Type and Trans Sub Type (Optional) STL currently does not support annuitization payments for an annuity in the payout phase. The transaction type of Periodic Annuitization Payment should be sent with a transaction sub type of Income Payment. Add new code to the Transaction Type Code List #2003 PA - Periodic Annuitization Payment Add new code to the Transaction Sub Type Code List #2004 13 – Income Payment Add edit: Sub Type 13 – Income Payment can only be used with Transaction Type PA – Periodic Annuitization Payment Modify edit to allow sub type 12 – Substantially Equal Payments to be used with new code PA. IPS00475 – STL – Changes to Support Replacements (Optional) The following changes are being added to support the Replacements cash settlement process as determined by the STL for Replacements working group. Add new codes to the Transaction Type Code List #2003 FS – Full Surrender PS – Partial Surrender Modify edits for currently mandatory items #2009 CUSIP and #2010 Distributors Account ID to Optional/Conditional. Edit: #2009 and #2010 are optional if Transaction Type #2003 is FS – Full Surrender or PS – Partial Surrender. Please note: Item# 2011, Data is optional when Transaction Type = 'FL' (Free Look), 'NT' (Not Taken Out Withdrawal), 'RA' (Rejected APP-Return of Premium), DB' (Death Benefit Payment), 'FS' (Full Surrender), "PS" (Partial Surrender); Required for other Transaction Types.
Add two new fields to the 62/01 Contract Record Add “Receiving Policy/Contract Number ID” field Item #2016 A/N Byte Location – 165-194 30 bytes O/C – Required if Transaction Type #2003 is FS (Full Surrender) or PS (Partial Surrender) Reject Code: 509 If Transaction Type #2003 is FS or PS, the contents of the new “Receiving Policy/Contract Number ID” field should be populated in the “Contract Number” field on the STL Money Settlement Detail Report Add “Cost Basis Dollar Amount” field Item #2017 9(14)v99 Byte Location – 195-210 16 bytes Optional Reject Code: 510 Allow spaces if not populated APPENDIX Documentation Changes Date Changes 12/03/2014 Initial Version For additional information on this enhancement release, please call your Account Relationship Manager. DTCC Insurance & Retirement Services