According to David Witz, managing director of PlanTools, “We have added the DB Benchmarking Module at the request of our users. The module includes over 20 different types of service lines provided to DB plans giving our users a comprehensive benchmarking solution.”
Data for the system will be populated by subscribers of the PlanTools Benchmarking solution. As more plans are added to the system, the data will become statistically significant.
“The DB Benchmarking Module will only fail if our subscribers fail to enter data. We built what was requested, now it is up to our subscribers to benchmark their plans,” Witz said.PlanTools also announced the decision to create a module for employee stock ownership plans (ESOPs) and 403(b) plans. It is currently collecting data regarding services offered to these types of plans to roll out new modules in the near future.