TPA Announces Same-Day Deferral Investment Offering

June 9, 2009 ( - CPI Qualified Plan Consultants, Inc., a Great Bend, Kansas-based third party recordkeeping and administration company, has unveiled a program to invest employees' salary deferral contributions the day they are withheld from participants' paycheck.

According to a news release, the same-day investment program is available to all clients who utilize CPI’s retirement plan administrative services along with payroll services through CPI’s payroll unit.

“Department of Labor regulations require payroll contributions to be invested as soon as administratively feasible,” Jon Prescott, CPI’s chief marketing officer, said in the news release. “We’ve found, however, that many of our clients want their contributions invested much quicker, on payday, in fact.”