As the subject of this message suggests, I'm looking for record keeping software for our system's DC and DB plans.

Can you give me any info about Schwab RT Recordkeeping?

I'm commenting from an administrators viewpoint and not an actually recordkeeper working with their system, but I'm not impressed with the version we're using (and I guess they are finalizing a new version).

For instance, I just found out (I'm told) that you cannot allocate recordkeeping fees as a flat fee per participant. Fees are all prorata on balance. It could be a case of our people not knowing the function to make it work - or maybe it's too difficult. But it should be in there an easy to administer.

I'm not sure there are as many checks and balances in the system to halt deferrals on someone who just took out a hardship.

I was with a trust department that had Quantech and I was more impressed with that system. However, there were issues with Crystal report writer and statement production.

Hope that helps.

We have just begun to use Invlink, or TSM, and I am not really impressed with the way the plans are converted onto the system, nor am I impressed with the handling of accrued contributions. Does anyone know of a good recordkeeping software that can handle accrued contributions in a daily environment?

There have been many issues with the way the system works, and right now I have four problems with the system that are under the scrutiny of their programmers. Two of them they have been working on for almost two weeks.

I don't think they would be an option for you because I don't believe they offer DB administration.

Hope this helps!

I used Schwab RT (Trustmark) daily valuation for about 9 years. It's OK as a recordkeeping system, but it leaves a lot to be desired as far as administration. Based on my limited experience with Relius I would say that it is better for administration. I think most Schwab RT users do compliance work outside of the system.

I wouldn't put DB plans on Schwab RT.

It almost no checks and balances of the kind dmwe mentioned.

It CAN do a flat fee per participant. It didn't work properly for a long time, but then it was fixed. The fee module is about the most antiquated part of Schwab RT and the interface is particularly confusing.

The biggest gripe I have heard about Relius is customer support, especially with installation and updates. I think at a lot of companies the plan administrators love Quantech and the network administrators hate it.

Good Luck