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Products July 14, 2008
Still River Unveils 403(b) Loan, Hardship Withdrawal Software
July 14, 2008 (PLANSPONSOR.com) - Still River
Retirement Planning Software has released new software to
support ongoing compliance with Internal Revenue Service
(IRS) regulations requiring 403(b) plan sponsors to monitor
participant loans and hardship withdrawals.
Reported by Fred Schneyer
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 announcement 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.
The price depends on usage, 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: $15,000.
More information is available at http://www.StillRiverRetire.com .