A CPI news release said that to the extent revenue sharing exceeds the quarterly invoice presented to the plan sponsor for recordkeeping and administration services, CPI will deposit the balance to the plan to be allocated across participant accounts.
“Plan sponsors are usually aware this revenue sharing is available to service providers to reduce recordkeeping costs; the plan sponsors who are not, should be,” CPI officials said in the news release. “However, very few products exist in the marketplace to disclose actual revenue sharing dollars to plan sponsors. AdviserSelect permits the plan sponsor to make an informed decision when choosing a service provider, basing that decision on quantifiable facts.”
More information about the company is at http://www.cpiqpc.com/default.asp .
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