The new services allow for TPAs to customize plan information, an improvement over the standard reports previously offered. The administrator also has the option of sending the report to the plan sponsor or have the plan sponsor access reports online through a customizable Internet program.
Additionally, plan administrators will have access to:
- a library of reports, available in PDF, Word, Excel and Access formats, to help with customization for individual plan sponsors;
- a “scheduler” function that refreshes data on a fixed schedule.
The enhancements are part of Schwab Retirement Technologies’ ongoing effort to offer increased reporting flexibility to TPAs.