Products October 7, 2013
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.
Reported by John Manganaro
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.
You Might Also Like:

$17.5M Settlement Reached Over ‘Too Conservative’ Plan Investments
The plan’s investment policy statement allegedly called for 70% of the plan’s assets to be allocated into domestic fixed income...

Another Health Care Provider Accused of ERISA Breaches
Barnabas Health is the latest to face class action allegations filed by the law firm Capozzi Adler.

Lack of Index Funds Cited in Latest ERISA Lawsuit
The Oshkosh Corp. is accused of permitting excessive recordkeeping fees and inappropriately favoring expensive active management funds in its retirement...