McCamish Systems L.L.C. is acquiring an arm of Magner Network L.L.C. that provides support services for non-qualified retirement plans.[@@]
Companies sponsor the plans, which do not qualify for all of the tax breaks available to plans for ordinary employees, to help top executives and other high-paid employees increase retirement savings.
McCamish, Atlanta, sells a wide range of financial services software and support services.
Magner’s retirement services division designs non-qualified plans and handles financial forecasting for the plans. It also has developed the Deferral Plus Plus and AdvisorFolio systems for generating non-qualified plan documents.
McCamish wants to combine the Magner retirement services division with its own non-qualified recordkeeping system and administration services, McCamish says.
Interest in non-qualified plan administration is strong because of a new federal law that clarifies the rules for running non-qualified plans, McCamish says.
After the deal is completed, Magner will continue to offer support services for organizations in the donor-advised fund, charitable gift annuity and disability income markets, and it will continue to provide case-level sales support in the non-qualified market, McCamish says.