The software will help plan sponsors comply with Internal Revenue Service (IRS) regulations requiring 403(b) plan sponsors to monitor participant loans and hardship withdrawals, according to a news release.
The software is based in Microsoft Excel, so it can be used and, to some degree, modified by purchasers. The release said that once the necessary data files have been received from vendors, the user can operate the software with a single click.
There is a one-time charge for this software, with no ongoing licensing or maintenance fees. The purchase price covers unlimited use on a single machine.
More information is available at www.StillRiverRetire.com.