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Products February 9, 2010
PlanTools Introduces Online Solution for Schedule C Reporting
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.
Reported by Rebecca Moore
An announcement 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 10 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. Interested plan sponsors should contact David Witz at 704.564.0482 or dwitz@fraplantools.com.