Retirement Association, the Investment Company Institute (ICI) and The SPARK
Institute endorsed the use of the Depository Trust & Clearing Corp. (DTCC)
Retirement Plan Reporting (RPR) solution to standardize and report plan-level
data across the industry.
offered through DTCC subsidiary National Securities Clearing Corp. (NSCC),
delivers a centralized and standardized solution for reporting
retirement-plan-level information between mutual fund industry participants.
According to the three organizations, RPR brings efficiency, automation and
security to the data exchange process. Additionally, it supplies standard
formats to accommodate the information flow among business partners, providing
increased transparency for Form 5500 Schedule C and Employee Retirement Income
Security Act (ERISA) Sections 408(b)(2) and 404(a)(5) fee disclosure compliance
requirements, general supervision and sales reporting needs.
giving this endorsement, the American Retirement Association, ICI and SPARK
Institute say they have committed to ongoing collaboration with DTCC to ensure
its reporting solution will be enhanced as necessary to meet evolving client
needs. In conjunction with DTCC’s clients, the three organizations also will
collaborate, they say, to further define the data fields necessary to meet the
requirements of all parties involved in sharing retirement plan information, as
well as to identify further ways to standardize retirement plan-level data