CUNA Mutual Group announced today that it will acquire retirement plan record keeper CPI Qualified Plan Consultants Inc. to boost the company's servicing to 7,500 retirement plans with nearly $10 billion in assets under administration.
The Great Bend, Kan.-based CPI is the largest employee-owned, third-party administrator in the United States, according to CUNA Mutual. It administers a variety of employee benefit plans, including 401(k), profit-sharing, money purchase, 403(b) retirement plans, 457(b), flexible benefit, and nonqualified deferred compensation retirement plans. The company also provides payroll services and 403(b) common remitter and compliance services.
CPI provides administrative services to more than 3,600 clients nationwide with plan assets under administration of approximately $5 billion. CUNA Mutual manages more than 3,300 retirement plans with plan assets totaling nearly $5 billion. Incorporated in 1972, CPI has more than 400 employees.
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