Products February 9, 2010

PlanTools Introduces Online Solution to Help with Schedule C Reporting

February 9, 2010 (PLANSPONSOR.com) -   PlanTools, LLC has introduced an expanded suite of online tools that automates the production of data for inclusion in the Department of Labor's required Schedule C reporting.
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A press release said PlanTools meets this challenge by incorporating the 58 different Schedule C codes into the expense analysis and benchmarking system to enable service providers to efficiently identify, calculate and report service provider fees. With the new Schedule C Report, PlanTools has integrated fee analysis and benchmarking with Employee Retirement Income Security Act (ERISA) reporting and disclosure requirements. 

The solution provides professionals with ten different independent reports that can be produced simultaneously, with each benchmarking report designed to assess the reasonableness of fees for services rendered by all parties against live data not “data  dumps” from IRS filings, according to the announcement. 

PlanTools‐based services are exclusively available through service providers, but PlanTools has announced that any retirement plan sponsor may receive a complimentary analysis prepared by a professional PlanTools user through March 31, 2010.  Interested plan sponsors should contact David Witz at (704) 564‐0482 or dwitz@fraplantools.com.

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