CPI Enters the Payroll Processing Business

February 22, 2006 (PLANSPONSOR.com) - CPI Qualified Plan Consultants Inc. has announced the creation of a new division, CPI Payroll Services.

The division will provide comprehensive payroll processing to not only retirement plan sponsors, but to companies of all types and sizes, according to the announcement.   CPI Payroll Services features Internet interfaces, electronic filings, direct deposit, and cash (debit) cards, as well as the traditional paper paycheck.

Rosalyn Rome, Manager of CPI Payroll Services, stated in the announcement, “Total Payroll Administration features the high-tech services many companies require from a service provider. When integrated with CPI’s retirement plan services, we can even invest plan contributions on the payroll date, which gives plan participants the added benefit of reconciling their payroll stub information to their plan benefit statement. However, we also have the ability to accommodate the smaller company that may not have up-to-the-minute technology, while still providing high-tech results.”

In a joint statement, CPI CEO Robert Dema and CMO Jon Prescott said the division was created as a result of requests from retirement plan sponsors who wished to have their payroll processed along with retirement plan recordkeeping and administration to bundle services.

For more information about CPI, visit  www.cpiqpc.com or call 800-279-9916, extension 765.