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McCamish To Acquire Non-Qualified Retirement Firm

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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.