Fee Benchmarking Goes Digital

October 7, 2013 (PLANSPONSOR.com) – Financial reporting and benchmarking firm FRA PlanTools released an iPad application to help plan advisers and sponsors access and compare retirement plan costs and fee data.

The app provides subscribers with a single-page, multicategory benchmarking report that captures a list of documents and reports needed to assess fee reasonableness. Users can also employ the app to support Employee Retirement Income Security Act (ERISA) 408(b)(2) compliance efforts and establish a procedurally prudent fee assessment process, designers said.

App users must complete a brief input survey to generate the customized reporting.

Current FRA PlanTools subscribers are eligible for a free report through October 18. The reporting tool can also be purchased through Apple’s App Store.

A model report is available here