Agent Compensation Statements Clause Samples

Agent Compensation Statements. Agent compensation statements are produced daily from extracts produced by the DSS system (job LVO04730). Checks related to the statements are generated out of the FMS system and are sorted in the same order as the statements. The statement extract is created during nightly batch processing and is sent to an enterprise output system application (EOS) which sorts and formats the data, generates the print stream and splits it into appropriate print jobs (bi-fold or flat). • Statements are sent to production mailing sorted into 6 groups: 910 - New York (with and without checks) 920 - Income annuities large check — value over $100,000 930 - Hold code (special handling – sent back to Symetra) 940 - LMKSGC (grouped by agency – all are addressed the same, but the statements are for many different producers) 950 - No check (EFT used instead, or check value less than $100) 960 - All others (statements that are to be matched with checks) • Checks are manually matched and inserted with the corresponding compensation statement. • Statements are generally packaged in bi-fold envelopes unless they exceed a threshold page count (10 pages) in which case they sent to the flat (9 by 12) envelope print job. • Output schedule is: o Fridays – weekly and bi-weekly statements o Month end statements o Quarter-end statements and annual statements • Statements for New York agencies (sort code 910) must be printed on New York letterhead and mailed in New York envelopes. • Special handling output (sort code 930) must be returned to Symetra for manual handling the next Business Day. • Statements for large checks (sort code 920) must be returned to Symetra for manual handling the next Business Day. • Statements with no check (sort code 950) can be mailed out directly to the recipient. • Statements for LMKSGC (sort code 940) must be matched up to the affiliated check and mailed. • Statements for all others (sort code 960) must be matched up to the affiliated check and mailed. • Mismatch statements (i.e., payment of $100 or greater with no check) must be returned to Symetra for manual handling the next Business Day. • Proof of mailing is required. Agent compensation statements are partially stored on microfiche and partially stored on DSS history. Microfiche was used prior to having DSS. Manual transactions are stored in Filenet. Table of Contents EOS04LSA Agent compensation – bifold Documerge printstream 3:00 AM 40,362 18,005 32,688 21,702 19,193 EOS04LSB Agent compensation — flat Docum...