Deals & PeopleMay 13, 2009

TPAs Combine to Provide Public Education 403(b) Plan Services

CPI Qualified Plan Consultants, a Great Bend, Kansas-based third-party administrator (TPA) and recordkeeper, agreed to acquire Gatekeeper Administration&Consulting, a Flagstaff, Arizona-based TPA specializing in the education industry.

Reported by Fred Schneyer

A CPI news release said the combined companies intend to provide CPI Common Remitter Services through a newly organized operations division under the management of Theresa Leiker, manager of Government and Tax Exempt Services at CPI. The deal is expected to be finalized no later than July 31.

As director of Retirement Consulting Services for Public Educators, Tamara Middleton, President/CEO of Gatekeeper, will be establishing a new CPI consulting division to focus on 403(b) and 457 plans within the public education sector, according to the news release.

The CPI 403(b) Gatekeeper Services will feature multiple service levels that will allow plan sponsors to decide how much or how little daily involvement they will have with the administrative aspects of their 403(b) retirement plans.