DALBAR, a trusted source for helping the retirement industry in achieving excellence through evaluation and accreditation of strict processes has rendered an opinion on methodology outlined for AXIS Retirement Analytics Platform's
To improve transparency, DOL introduced regulations in 2012 that require plan providers to analyze their plans against comparable industry averages.
The AXIS Retirement Analytics PlatformTM is the industry's only comprehensive option for the DOL's new regulatory requirements. Automated data aggregation, 408(b)(2) & 404a-5 Disclosure module, extensive reporting, & On-Demand Benchmarking - complete with audit controls. Data drives the AXIS Retirement Platform, and is aggregated on a monthly basis from our Data Providers. With over 80,000 ERISA Plans refreshed on a monthly basis with fees, services and provisions, AXIS benchmark can produce the most comprehensive comparable in one click.
"After review of the methodology outlined by AXIS, we have found that the approach taken can be expected to produce reliable benchmarks, subject to an implementation that follows the outline presented and incorporating proper controls" said
"We're excited to be able to provide our benchmarking tool for the industry and having DALBAR'S qualified opinion, validates our mission and objective to provide accurate real time data back to the industry," added
About Castle Rock Innovations and AXIS
Castle Rock Innovations has been serving the financial industry for over 20 years by providing our clients with technology that improves efficiency and creates value. In anticipation of 401(k) fee disclosure regulations that were introduced in 2012 by the
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