Products June 9, 2009
TPA Announces Same-Day Deferral Investment Offering
June 9, 2009 (PLANSPONSOR.com) - 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.
Reported by Fred Schneyer
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.”