Press Release

DATAIR Updates Their Pension System for the American Rescue Plan of 2021 (ARPA-21)

Issued by DATAIR Employee Benefit Systems, Inc.

Mar. 18, 2021

Westmont, Ill. - DATAIR is pleased to announce an update to its Pension System for the American Rescue Plan Act of 2021 (ARPA-21), which includes:

• ARPA-21 amended rates with new 430(h)(2)(c)(iv) corridors and minimum 25-year average of 5% set for first, second or third segments.
• ARPA-21 15-year amortization added and will apply for plan years beginning in 2022.
• ARPA-21 Funding Election Form 430 and 436 added to use for elections provided under the American Rescue Plan Act of 2021 (ARPA-21).
• Actuarial Certification and Disclosures updated to add “the American Rescue Plan Act of 2021 (ARPA-21).”
• Schedule of Amortization Bases updated to show 15-year amortization bases and installments under ARPA-21, if elected prior to plan year 2022.

About DATAIR Employee Benefit Systems, Inc.

DATAIR is one of the largest independent Employee Software vendors, offering Defined Contribution, Defined Benefit/Cash Balance and Cafeteria/Section 125 plan administration, Government Forms, and Plan Documents. DATAIR has been providing Quality Software, Excellent Service, and Outstanding Value to Third Party Administrators around the country since 1967.

Additional information about DATAIR, and its products and services, is available atwww.datair.comor by calling (888) 328-2474

Editor's note: This press release has been issued by the company named above, not BenefitsLink. Reliance on information in this press release might be prudent only after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by BenefitsLink.