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Currently using TSM which will no longer be supported after this year.  (using FtWm for documents/5500)

Considering Schwab SRT and ASC.  Thoughts on the two? anyone who has used both?  Recommendations for other software? Thanks!

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We were a TSM user and, while we ultimately chose to outsource, we did look at Relius.  Then I changed jobs (due to the outsourcing decision) and now I'm at a firm that uses Relius.  I have to say I don't like it.  It's quirky.

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I use FTW for documents, 5500/1099, and admin.  I used to use Relius for everything.

To me it comes down to two things, cost and need.  

On cost, FTW wins hands down.

Do you need a lot of flexibility? Relius, while sometimes tedious to work with because of all the settings and options, is a lot more detailed than FTW (and any other system I have looked at).  You have to know the system pretty well to use all the bells and whistles, but if you do, you can make it do pretty much anything you want.  At least this was my experience 5+ years ago.  

I am happy with FTW.  It does what I need it to do 99% of the time. The other 1% can be a pain and requires some creativity, but so far I haven't come across a problem I couldn't solve. Since FTW is less detailed/quirky, it is also easier to learn and use on the more basic and moderate levels. 

The one thing I really miss is being able to make the reports just the way I want them, like you can with Relius.  With FTW you are pretty much stuck with their formatting options (although they are working on giving us more options to customize).  If you really need to change the look of the reports, you can customize it on the user end in Word, Excel or Acrobat, but you need to be creative and it helps if you have a good understanding of macros.

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  • 9 months later...
  • 2 years later...

A long time ago, we switched from Relius to FTW JUST for 5500 forms. I find the FTW 5500 system very easy to use. We did some fairly extensive testing on the document system, and determined that we preferred the Relius document system. Of course, to a certain extent, there's a lot of inertia involved; switching over to new documents is a challenging project,  and the error ratio usually gets higher until everyone is comfortable with a new document/system, which often takes quite a long time.

I can't comment on the Datair SYSTEM, but I just don't like their documents. I think they are very confusing - I always hate a takeover on a Datair plan.

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  • 2 weeks later...

I represent Congruent Solutions. We are a technology solutions and outsourced plan administration provider to the retirement plan industry.

We offer our product platform - the CORE suite of solutions - to the retirement plan industry. The main differentiator of the CORE platform is that it is a cloud-based, modular record keeping platform. This offers multiple benefits to our clients.

- One, due to cloud deployment, the total cost of ownership is lower. However, for clients who prefer hosted models, we offer that model too.

- Second, as it is modular in nature, our clients do not have to replace their existing platform. Our platform offers great flexibility.

- Third, the business rules in our platform have been kept separate from the codes. This allows our clients to quickly adapt to the every changing regulatory needs much quicker without any impact on the operations.

These are but just few of the benefits of CORE suite. If you need any additional details, please do reach out to me at sriganesh.r@cspl.com. Would be more than happy to share more details.


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