Schwab RT, a dedicated technology unit of Charles Schwab Corporate Services, created the program to help clients seeking complementary technology s in support of their retirement plan administration needs, according to the firm. Schwab RT develops and licenses proprietary retirement plan recordkeeping systems and participant servicing solutions to third-party administrators, banks and trust companies, consulting firms, mutual fund companies, and insurance companies.
Baltimore-based MK Consulting specializes in retirement benefits administration support, including staff augmentation, operational analysis, systems’ utility optimization, and compliance testing s for third party administrators, financial providers, and other retirement benefit providers.
“In addition to the solutions Schwab RT offers, many plan providers we support also use additional outside services to help them optimize the operations of their retirement benefits systems. MK Consulting specializes in this type of service, and offers extensive recordkeeping system experience. Including MK Consulting in our alliance program helps us better serve our clients by bringing them this expertise,” said Daren Free, chief operating officer, Schwab RT.
Other members of the Schwab RT Consulting Alliance Program include:
- DataStar.dat — web-based payroll, contribution and census data applications;
- SCICOM Data Services — flexible print and electronic statement solutions;
- Viecore, Inc. — systems integration for self- call center and Internet technologies.