CPI Qualified Plan Consultants to Acquire Arizona Firm
GREAT BEND, KS, May 13, 2009 -- CPI Qualified Plan Consultants, Inc., a third party recordkeeping and administration company headquartered in Great Bend, Kansas; and Gatekeeper Administration & Consulting, LLC, a third party plan administration company specializing in the education industry headquartered in Flagstaff, Arizona, announced today that CPI will be acquiring the operations of Gatekeeper.
CPI has offered 403(b) Services since 1991 and Common Remitter Services since 2007. Gatekeeper has offered the 403(b) Gatekeeper Services® since 2000. The two intend to provide CPI Common Remitter Services through a newly organized operations division under the management of Theresa Leiker, Manager of Government and Tax Exempt Services at CPI. As Director of Retirement Consulting Services for Public Educators, Tamara M. Middleton, President/CEO of Gatekeeper, will be establishing a new CPI consulting division to focus on 403(b) and 457 plans within the public education sector.
"CPI has long been known in the retirement plan industry as a premier leader in the area of defined contribution plan administration and operation," said Tamara M. Middleton, Gatekeeper's CEO. "Their expertise in the retirement plan marketplace is unmatched, and bringing that level of operational support to our 403(b) clientele is exciting and much needed given the industry challenges plaguing all plan sponsors."
"Gatekeeper understands the governmental marketplace, particularly our nation's schools, and their years of experience in the industry are well known," stated Jon Prescott, CPI's Chief Marketing Officer. Jon continued to add, "We are pleased to introduce this level of consultative support to our common remitter clients. This is a win-win for everyone involved, the plan sponsor, participants and both organizations."
"CPI strives for excellence and efficiencies in all aspects of our plan administration" remarked Robert J. Dema, CPI CEO. "Our marriage with Gatekeeper will finalize the realization of the dream for the 403(b) Gatekeeper Services®. We are pleased to be working together to make this a reality."
403(b) Gatekeeper Services® has been providing the highest level of plan design, administration, and compliance support since its inception in 2000. The unification of these two organizations will make CPI the nation's leading provider of 403(b) plan services to the education market.
The CPI 403(b) Gatekeeper Services will feature multiple service levels, allowing plan sponsors to decide how much or how little daily involvement they will have with the administrative aspects of their 403(b) retirement plans.
The effective date of the merger has yet to be announced, but transition efforts are commencing immediately to assist all clients. Finalization is anticipated to be no later than July 31, 2009.
CPI Qualified Plan Consultants, Inc.
Since 1972 CPI Qualified Plan Consultants, Inc. has provided recordkeeping and administration services to qualified and non-qualified defined contribution retirement plans from its corporate offices in Great Bend, Kansas. With 13 regional offices located throughout the United States, CPI's consulting and production management staff has more than 270 combined years of experience in the retirement plan industry. CPI currently partners with the nation's most prominent investment institutions and mutual fund companies to provide services to more than 3,000 retirement plan clients and their financial advisers. For more information about CPI services, visit www.cpiqpc.com or call 800-279-9916, extension 765.
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