Insurance Services from Castle Rock Innovations

408(b)(2) Fee Disclosure

Retirement Analytics PlatformAXIS Retirement Plan Analytic Platform (AXIS) is a web based software service that enables retirement plan fiduciaries to support DOL mandated section 408(b)(2) regulatory fee disclosure reporting requirements.

AXIS is designed to service all retirement plan types through a single web based interface and data repository. The AXIS Platform can interface with any system of record supporting retirement plan data feeds. AXIS provides features to edit and generate reports for filings, report plan expenses and compare retirement plan features and their employee population to those of their peers by choosing among different characteristics such as industry, company size and employee generation.

 

CRI’s approach to 408(b)(2)

  • Create single data repository for collecting plan expense data for all plan types
  • Interface with key recordkeeping and administration companies for data transfer
  • Allow Financial Advisors to identify and establish plans that are out of the primary selling network
  • Organize data so that it is easily evaluated and reportable
  • Provide ultimate flexibility to create reports or data streams once data has been collected and validated
  • Have the system completely certified and validated by Industry Experts.

Benefits of using CRI's AXIS Solution

  • Browser based system for accessing and managing fee worksheets for all plan related fee information.
  • System supports feeds coming from record keeping systems managed by your recordkeeping partners as well as internal systems managing IRA’s. System also supports the manual creation of plans not supported by data feeds.
  • System can be accessed by Internal Administrators, Advisors, or Plan Recordkeeping Administrators.
  • Print / Data extract system supports the creation of a fee disclosure document for each plan. The system is engineered to print one or all to a PDF print file or send raw data to a file of which could move to an output vendor for printing and mailing.
  • CRI is working with industry experts to create a Certification process for the fee disclosure document.  CRI will work with your Legal and Compliance team(s) on creating the output.
  • AXIS provides a Query / Reporting tool providing the ability to breakdown and report Plan and business statistics.
CRI’s focus to deliver valuable retirement solution is a testament to the Company’s ability to offer industry leading solutions to the market. By leveraging the best practice solution and technologies, CRI is able to offer an innovative approach to making information more accessible to the users and allow them to meet their compliance challenges. CRI’s Axis Solution is the industry’s first such solution to tackle the 408 (b) (2) to meet all government regulatory requirements.
Wealth Managment Board of Advisory Member, Castle Rock Innovations, LLC.