Partnership

NetBene Group is a partnership between Roy Mann and Alfred Munksgard. Both men have been working with employee benefits software since 1987 at BeneSys Inc where Mr. Mann was President and Mr. Munksgard was Vice-President of Product Development for Pension Systems. BeneSys abandoned the pension product in 2002 to focus on health benefits due to the labor intensive requirements needed for pension software. Mr. Munksgard acquired the rights to create a support network for existing clients and in 2012 recruited Mr. Mann to join him in a partnership to develop a new web based pension administration system for Montana Teachers' Retirement System.

The Group

NetBene Group has no employees nor corporate headquarters. The group is based on a progressive model comprised of independent contractors who have been recruited based on their speciality, experience, work ethic and service excellence. They work primarily from home and, depending on their speciality, travel to the customer's facility for special scheduled events. Members of the group are well compensated and enjoy a working environment where they telecommute from their work location within our network. This arrangement allows the partnership to recruit and maintain the "best of the best". Note that all members of the group are in the United States making the software 100% American made.

The group is divided into speciality teams where some members work in multiple teams.

Detailed member information is maintained beginning with enrollment, which most likely will occur when an employer submits a monthly report of earnings and contribution, and continuing throughout their lifetime. Members can designate and maintain beneficiaries through the online portal and submit them to the retirement system. Members can create benefit estimates and utilize other retirement planning tools. They can buy different kinds of service and can withdraw their accumulated contributions upon termination.

Once qualifying for retirement, the member submits an application, selects a plan option and, upon approval, begins receiving monthly benefits. Benefit plans currently are based on service credit, average final compensation and tier. The platform allows plans based on other criteria to be added. The system includes a full retirement payroll system. Upon a member's death and depending upon the plan option selected, a beneficiary can select continuing benefits or a lump sum benefit.

A dynamic part of the system is the ability to maintain communication with members using the correspondence features which consists of letter templates created with MS Word and incorporating tags and macro-tags for insertion of data. Our proprietary software prepares the letter and adds letterhead and signatures allowing letters to be generated on plain paper. The library of templates is organized by function and is used to create single or group letters. Many letters are produced automatically with events such as benefit calculations, withdrawals and benefit changes. Letters are also used to replace pre-printed forms such as annual statements and other mass mailings. Customers tell us that the correspondence features alone save the staff countless time and energy.

The software is comprised of "modules" which logically group the functionality for easy access and control. The modules give a better insight to the system capabilities and a sample of the modules can be seen on the following page.