Products October 19, 2007

DATAIR Unveils 2007 5500 Series Forms

Software provider DATAIR Employee Benefit Systems, Inc. has released its Pension Reporter software package containing 2007 plan year EFAST-approved paper and electronic 5500 series forms and schedules, as well as the 2007 SAR.
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This release comes with all printing capabilities, validity checking and built-in instructions, according to a press release. DATAIR’s staff provides support on both software and forms completion questions. The firm says it is the first vendor to win government approval for the 2007 5500 series forms.

The Pension Reporter system is licensed by DATAIR to Third Party Administrators, Consultants, Plan Sponsors and other pension and benefits professionals on a site basis (no limits to number of computers) with license and support fees being based on the number of plans administered.

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Modules Available

DATAIR’s Pension Reporter is available in four modules:

  • Annual Reporting Series: EFAST 5500-series, PBGC Premium-series, SAR, and 5500 electronic filing;
  • 1099-R Series: 1099-R and related forms, 945/945-A, and 1099 electronic filing;
  • Qualification & Termination: 5300/5310-series and PBGC 500/600-series forms; and
  • FAS 132/158: Audit letter, worksheets and schedules.

The system includes government instructions, detailed instant edit checks, year-to-year data transfer, data import capabilities, and conversions from other systems. Licensees are entitled to expert support on systems and forms issues at no additional cost, according to the firm.

Additional information about Pension Reporter and other DATAIR software is available at www.datair.com or by calling (888) 328-2474.

Products October 19, 2007

TRI-AD Introduces 401(k) Full Fee Disclosure Guarantee

TRI-AD has introduced a written Full Fee Disclosure Guarantee as an integral part of its defined contribution plan daily valuation recordkeeping service.
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TRI-AD has provided full fee disclosure since the early 1990s, but will now formalize that arrangement in the form of a contract certifying that all revenue collected is fully disclosed to the plan sponsor and financial adviser, according to a press release.

The Escondido, California-based firm says that all revenue sharing TRI-AD collects is fully disclosed and rebated to offset administration and recordkeeping expenses, and that TRI-AD does not receive any additional compensation either for having multiple plans with a single custodian or for using specific investment options within a given plan.

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The firm says that as a result, plan fiduciaries know that all fees have been disclosed and that participants’ interests are always being served – and because understanding and managing plan fees and expenses is a key fiduciary responsibility, TRI-AD’s full fee disclosure guarantee helps their clients mitigate the personal liability associated with having a fiduciary obligation to the plan.

TRI-AD was founded in 1974 as a defined benefit plan administration firm, and over the years has grown service offerings to cover a complete range of benefit administration services. According to the firm, TRI-AD is currently the largest privately-owned benefits administration firm in Southern California, with over 1,000 clients nationwide.

For more information, visit www.tri-ad.com.

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