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Products November 6, 2008
Still River Updates Software to Support 403(b) Plan Monitoring
November 6, 2008 (PLANSPONSOR.com) - Still River
Retirement Planning Software, Inc. has revised its software
supporting ongoing compliance with the new IRS regulations
requiring 403(b) plan sponsors to monitor participant loans
and hardship withdrawals.
Reported by Rebecca Moore
According to a press release, the updated 403(b) Loan and Hardship Withdrawal Compliance Utility is now compliant with the new SPARK 1.02 best practices for 403(b) data sharing (See SPARK Institute Updates 403(b) Guide ). Still River says the utility is easy for plan sponsors to use themselves, but can also be used by local consultants and field reps, and is available for larger financial firms and marketing organizations to provide to the plans sponsors or field reps they support.
There is a one-time charge for the software, with no ongoing licensing or maintenance fees. The purchase price covers unlimited use on a single machine, and follows these general guidelines:
- For plan sponsors with fewer than 100 employees – $450.
- For plan sponsors with 100 or more employees – $950.
- For consultants and 403(b) field reps serving three or fewer plans – $950.
- For TPAs serving more than three plans – $7,500.
- For insurance companies, mutual fund companies, and broker-dealers who want versions they can distribute on an unlimited basis to their field reps and/or plan sponsors – $17,000.
For more information visit http://www.StillRiverRetire.com or email Chuck Yanikoski at csy@StillRiverRetire.com .