DB Precision is software that is designed to simplify pension administration by automating tasks that would otherwise be done manually. In addition, it includes a robust relational database that houses all pension-related data in a single repository. Finally, there is an add-on product which allows plan's that are setup within DB Precision to be accessed online by both participants and HR managers.

Tasks that are automated by DB Precision include the following:

1. Calculation of pension benefit estimates and amounts for when a participant retires
2. Creation of required paperwork and forms for retirement
3. Tracking of the retirement payment process for participants
4. Production of annual benefit statements
5. Reconciliation of actuarial valuation data and production of data to be used
6. Web portal creation
7. Creation of plan freeze and plan termination paperwork

Users of DB Precision can be broken down into the following basic categories:

1. Pension Administrators and Actuarial Firms: these firms use DB Precision to simplify pension administration for their own clients. They will load one or more of their client's plans onto the system and then use DB Precision to do benefit calculations, produce annual benefit statements, as well as reconcile valuation data. They may also use it to provide online pension access to their clients and plan participants.
2. Plan Sponsors/Unions/Municipalities: plan sponsors can use DB Precision to administer their own pension plans. These sponsors use DB Precision to do their own benefit calculations, produce annual statements, and submit data to their actuary. In addition, they can use it to provide online pension access to the sponsor's plan participants.
3. Plan Participants: people that are plan participants in a plan that is on DB Precision where the sponsor has paid for portal access are able to use DB Precision through the online portal. Once logged in, participants can view documents, do benefit estimates, and sometimes edit their own pension data.