What is CDMs role in my retirement plan?
There are essentially 3 components to your organization’s retirement plan operation: • The “plan sponsor.” Your employer is the plan sponsor. That is, your employer sponsors a retirement plan through which you can accumulate tax-deferred savings for retirement. • The financial advisor. Your employer has selected an individual or team of individuals to help plan participants, such as yourself, select the appropriate mix of investment options for your account. The plan’s financial advisor also helps your employer select the investments offered through the plan. • The “third party administrator.” CDM provides what are known as record keeping and administration services on behalf of employer-sponsored retirement plans. Account reconciliation, plan testing, and other requirements are all overseen by CDM.
