CPI Introduces Same-Day Investment of Payroll Contributions
GREAT BEND, KS, June 9, 2009 -- CPI Qualified Plan Consultants, Inc., a third party recordkeeping and administration company headquartered in Great Bend, Kansas, announced today that they have put the finishing touches on a program designed to invest employees' salary deferral contributions on payday - the same day those contributions are withheld from the participant's paycheck. The same-day investment program is available to all clients who utilize CPI's retirement plan administrative services along with payroll services through CPI Payroll Services.
Jon Prescott, CPI's Chief Marketing Officer, stated, "Department of Labor regulations require payroll contributions to be invested as soon as administratively feasible. We've found, however, that many of our clients want their contributions invested much quicker, on payday, in fact. To answer this request, our Operations and Payroll teams worked to create systems and procedures that could accommodate the needs of our clients. We are pleased to be able to offer this solution to our retirement and payroll clients."
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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