Get more! Sign up for PLANSPONSOR newsletters.
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.”
You Might Also Like:
84 Lumber Co. Retirement Plan Sued for High-Fee Investments In-Plan
A lawsuit against the Pennsylvania-based company has alleged the plan’s recordkeeper fees were higher –than average and that the plan...
Humana Inc. Defeats Class Action Claims of Excessive 401(k) Fees
A federal judge in Kentucky ruled in favor of the Humana Retirement Savings Plan with a summary judgment and dismissed...
Ascensus Adding $3.9B to Recordkeeping Assets with Acquisition
Purchase will bring in-house Mutual of Omaha's 401(k) business, to which it had provided outsourced services for years.