ASC: Compliance Testing
Schwab RT has created a process to interface with the ASC compliance testing system for a fully integrated compliance testing program. This integration allows the Schwab RT recordkeeping system to transfer data to the ASC system for testing, and in return the ASC system transfers test results back to the Schwab RT recordkeeping system. Clients can also conduct hypothetical scenarios.
The ASC compliance testing system handles both small and large plans, combining speed with sophisticated results. The ASC system can be used as an alternative to Schwab RT’s compliance testing.
Benefits
- Eliminates time-consuming reruns and data manipulations by generating multiple corrections or solutions for failed ADP/ACP tests.
- Interfaces with any recordkeeping system and can include data from multiple plans or plans not on the ASC system.
- Provides interactive or high-volume batch processing.
- Performs required tests on multiple plans with user-specified aggregation or disaggregation.
- Performs matching calculations and produces variance reports.