Products May 12, 2005

CPI Adds Redemption Fee Warnings

May 12, 2005 (PLANSPONSOR.com) - A Great Bend, Kansas third party recordkeeper has enhanced its Plan Sponsor and Plan Participant Internet sites and Interactive Voice Response (IVR) telephone system to warn users about the new short-term fund redemption fees.
Reported by

The Participant Web site will warn the participant every time an affected trade is made on the system, according to a CPI Qualified Plan Consultants news release.

Also, CPI said it is now offering a new Web site report at  www.cpiqpc.com that illustrates funds that have implemented a short-term redemption fee and the holding period necessary to avoid this fee. Both reports can be found under the Fund Family Partners section of the site.

Short-term redemption fees have been instituted by some fund companies in response to the fund trading scandal which focused among other things on market timing abuses.

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