CMC Interactive Launches Outsourcing Service for 401(k) Providers

In addition to RIA services, the program, CMC Outsourcing, offers customers a broad array of service options for recordkeeping and plan administration.

CMC Outsourcing customers can elect one or more service tiers covering daily recordkeeping; trading and reconciliation; payroll and contribution processing; compliance testing and reporting; plan sponsor and participant Web interaction; call center support; and access to investment advice, according to a news release.

CMC Interactive, a third-party administrator exclusively focused on retirement plan solutions, uses SunGard’s Relius Administration platform for recordkeeping, plan administration, and as the base architecture for its customized Web portal for plan sponsors and participants.

“Customers of this service will be able to focus on building their consulting practices and enhancing customer relationships instead of concerning themselves with the operational details of recordkeeping and plan administration,” said Michael Calandra, CMC’s co-founder and principal, in the release. “We think it is a very progressive model.”