TASC purchases CPI Qualified Plan Consultants’ book of payroll business; will serve these Clients with the innovative PayPath payroll advantage.
Madison, WI (September 17, 2014) – TASC (Total Administrative Services Corporation), a provider of tax-advantaged medical and other benefits account management services, announces that it has acquired CUNA Mutual’s CPI Qualified Plan Consultants, Inc., (CPI) payroll business.
Since 1971 CPI, a subsidiary of CUNA Mutual Investment group has been widely known in the intermediary market as a retirement plan record keeper. Located in Great Bend, Kansas, CPI currently served 262 payroll Clients throughout the United States.
“An integral aspect of TASC’s growth strategy is to identify and acquire high-growth high-value solutions for customers. Purchasing CPI’s book of business fits perfectly with our desire to diversify services. We are very excited to add CPI’s Clients to our growing book of payroll business,” said Dan Rashke, TASC chief executive officer.
Jim Famularo, vice president of operations with CUNA Mutual Retirement Solutions made it quite clear why they chose to sell to TASC. “Selling our payroll business will allow us to invest and focus more on our core 401(k) business and related growth strategies,” said Famularo. “We feel TASC is the ideal organization to acquire this book of business, as payroll is core to their operating model.”
