ExpertPlan Releases RK System

Recordkeeper ExpertPlan has unveiled its PlanRecordkeeper+, which the company said allows third-party administrators (TPAs) to maintain daily recordkeeping services while working with ExpertPlan.

An ExpertPlan news release said the new offering is derived from its proprietary software and efficient transaction capabilities that alleviate the TPAs’ cost, risk, time, and staffing problems.

In addition, the system delivers personalized Web access and a customizable voice response unit (VRU).

The company said that before PlanRecordkeeper+, TPAs getting into recordkeeping saw application service provider (ASP) software as the vehicle that made daily recordkeeping possible. ASP, however, presented broader challenges to TPAs such as processing and reconciling daily trades, maintaining staff to manage the additional functions, and considerable increase in liability for mishandled transactions, the recordkeeper explained.