The technology company Omyen Corp. has released software that lets retirement advisors produce custom reports for their clients.

The Enterprise Retirement Planner, announced last week, lets retirement-plan advisors automate the creation of personalized retirement plans by accessing information directly from the plan recordkeeper. The software permits advisors to upload information on a client's salary, contribution level and other personal data into the system to produce reports that display a plan participant's risk profile and project retirement income based on different allocation strategies.

The Enterprise Retirement System gives advisors several options for inputting their clients' data into the system: they can upload it directly from the plan's recordkeeper, enter it themselves or allow their clients to enter it. It is an open-architecture system that can be integrated with multiple recordkeeping systems, the Westwood, Mass.-based Omyen said.

The software is intended to minimize the work advisors need to do to produce custom reports and comply with the latest fee-disclosure rules form the Department of Labor.

"I have seen retirement plan advisors carrying their custom spreadsheets for one-on-one sessions with plan participants and spending nearly an hour, sometimes even more than an hour, to create just a basic retirement plan," said Dinesh Sharma, Omyen's chief executive, in the news release. "With Enterprise Retirement Planner, they not only can distribute it to thousands of employees with a mouse click, they can also generate a comprehensive retirement plan for a participant in about one-third of the time they would have spent otherwise."