Press Release
CMC Interactive Chooses SunGard for Straight-Through Processing
Full Service 401k Firm Automates to Support Rapid Growth
Jacksonville, FL, December 6, 2002 –- SunGard Corbel, an operating unit of SunGard (NYSE:SDS), announced today that Relius Administration client, CMC Interactive, LLC (CMC) has implemented Relius’ straight-through processing functionality within its retirement plan recordkeeping business.
A full service 401k and actuarial firm, CMC manages over 200 plans, with 5,000 participants, and plan assets of $80 million. CMC needed to streamline their processes to manage their volume and set the stage for growth. Straight-through processing accomplishes both for CMC while also maintaining their profitability and competitive edge - without sacrificing quality.
The Relius Administration straight-through processing solution allows administrators to handle three to four times the number of plans. For CMC, this means they can employ experienced professionals to provide the quality service their plan sponsors and participants expect, while at the same time save on overhead by employing fewer support staff.
"By utilizing the latest in daily recordkeeping software - Relius Administration straight-through processing – we are able to reduce human error through the automation of various processes," said Michael Calandra, principal at CMC. "We are able to offer benefits such as late day trading to our clients without the need for a second shift of employees in our office. Operating in a straight-through processing environment is a big cost savings for us, one we can pass on to our clients – which is a big plus in today’s competitive market."
"Straight-through processing technology is key to staying ahead of the competition in the retirement plan recordkeeping industry," said Don Mackanos, president of SunGard Corbel. "It allows our clients to bring in new business and more effectively manage existing business without adding resources – ultimately helping to make them more profitable."
About CMC Interactive, LLC
CMC Interactive, LLC is a 401k and actuarial service company that is dedicated to providing its clients with cost-effective, full-service retirement plan solutions through a commitment to Web-based technology. CMC maintains a strong focus on building and retaining close client relationships through continued support in administration. For more information, please visit www.cmcinteractive.com
About SunGard Corbel
SunGard Corbel Inc., an operating unit of SunGard, provides the employee benefits industry with retirement plan recordkeeping software, document generation software, all types of retirement plan documents, government forms software, plus educational seminars and services. Visit SunGard Corbel at www.sungardcorbel.com
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