New CPI Division Assists 403(b)s with Vendor Management

CPI Qualified Plan Consultants, Inc., has created a new division to offer common remitter and compliance services to 403(b) retirement plan sponsors.

CPI Common Remitter Services will offer the Common Remitter and Compliance Program (CRCP), which features three different service levels, allowing plan sponsors to choose the level of daily involvement they will have with the administrative aspects of their 403(b) retirement plans and the multiple vendors participating within their school district or tax exempt organization. In addition to plan documentation, vendor verification, required testing, and limits monitoring, CRCP also offers Internet and call center services for the plan sponsor and participants, the company said.

“Payroll processing can continue as usual, and the plan sponsor can include any number of vendors in the 403(b) plan to meet the needs of the plan participants,” said Jon Prescott, Chief Marketing Officer of the third party recordkeeping and administration company, in a company announcement.