More than 1,000 school districts will be joining those whose 403(b) and 457(b) services are administered by The OMNI Group, an independent third-party administrator whose services include retirement plan administration.
This comes after U.S. Retirement Partners (USRP) acquired CPI Qualified Plan Consultants, Inc’s Common Remitter Services business. USRP made the acquisition through its U.S. Employee Benefits Services Group (USEBSG). USRP is transferring the administration of the 403(b)s and 457(b)s CPI handled to The OMNI Group, which is a USEBSG member.
The OMNI Group Vice President and Chief Operating Officer Nina Rovinksi in a May 1 press release hailed the move not only as a growth opportunity for OMNI, but also an expansion of its reach throughout the United States.
John Iekel is Senior Writer and Editor for the NTSA Net and ASPPA Net portals.
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