PLAN SPONSOR FAQS
Q: What makes the CDM "Single Point of Contact" service approach so unique?
A: Other service providers will claim to offer "Single Point of Contact" servicing. However, their service model requires the relationship manager to rely on other departments for retirement plan expertise and assistance. At CDM, each plan is assigned an experienced CDM Plan Consultant. This individual is responsible not only for the day-to-day contact with you and your client, but also for the administration and record keeping of the plan, as well as consultative services.
The result? An individual who knows the plan well and can provide personalized service and guidance.
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Q: How does CDM help me ensure that my organization's retirement plan stays compliant with retirement industry regulations?
A: A retirement plan must be compliant with ever-changing industry regulations in order to remain qualified. Your CDM Plan Consultant provides you with legislative updates, as they take place, and offers guidance on the implementation and/or effect of new regulations as they pertain to your plan. Through a periodic review process, each plan is examined for possible revisions, enhancements, and overall effectiveness.
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Q: What are my options for retirement service providers?
A: In the retirement plan provider marketplace, there are essentially 2 general approaches to offering retirement plan services:
- "Bundled." This approach entails having the investments, administration, and record keeping offered by one provider.
- "Unbundled." This approach entails the custom-selection of different providers for the various components that comprise a retirement plan. For example, one organization might provide the investments while another provides the administration and record keeping services. An unbundled approach allows plan sponsors to choose the most appropriate providers for each component.
CDM is a service provider operating in the unbundled approach.
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