CPI Qualified Plan Consultants

A few years after CPI Qualified Plan Consultants opened in 1972, it became obvious it was doing something special.

The East Coast and West Coast came calling and suggested the firm pack up and move to where the big boys and girls live and work.

“We had retirement plan specialists from both coasts visiting our office,” recalled Bob Dema, CPI president and chief executive officer. “They all said we could do well if we would relocate.

“They confirmed what we already knew,” Dema continued. “What we had to offer could be sold nationally. So we started opening field offices in various states in the late 1970s.”

Now, nearly four decades later, CPI is a leading provider of recordkeeping and administrative services for retirement plans that receive high marks in industry surveys. It serves more than 3,700 retirement plan clients and their financial advisors.

“We were confident about our ability to grow and make money,” Dema said. “We just had to constantly be focused on cash and meeting payrolls, while still investing in expansion and systems so that we could improve.

“We did, however, completely change our business model twice - once in the late 1970s and again in the ‘80s. We killed off services and added new ones as the law continually changed.”

For example, CPI was one of the largest ESOP administration firms in the country but decided that area of the business wouldn’t grow. It was sold.

Another example was payroll processing. “We got into that service business about 15 years ago but decided the technology wasn’t as advanced as it needed to be,” Dema said. “So we sold off that work but have since gotten back into it. And now payroll processing is one of our fastest growing areas.”

Dema was born in Fort Devins, Mass. His father was in the U.S. Army, which meant a lot of moving around. But from his sophomore year in high school on, he lived in Lawrence. He earned a bachelor’s degree in business with a major in accounting at the University of Kansas and became a certified public accountant. After working in Kansas City, he came to what is now Adams Brown Beran and Ball.

All Together Now - The main CPI building, which is actually composed of what used to be four separated businesses in a strip mall, is now one expansive, 91,300 square foot working environment. "We have over 30 different departments, and most of them are grouped together in one of the four buildings," Human Resources Director Erika Brining says. "Our building suits our needs well, and is probably the only place that could accommodate the several hundred people who come to work here every day, with room for growth."

After Lane Kerns opened CPI, Dema was the fourth employee in the firm at what was the Colonial Savings and Loan Building on Broadway. Now there are 500 employees and the company is headquartered at 1809 24th.

Dema bought into the firm in 1976; he and others bought 100 percent of it a couple years later.

There are 16 field offices, with three more to be added this year and another three next year. Of the 500 employees, only 37 work in other locations, and the 40 new positions this year will be in Great Bend.

CPI’s new parent company is CUNA Mutual Group, which has been designing retirement plans for small and mid-sized employers for almost five decades. During the last 10 years, industry surveys have consistently given CUNA Mutual top rankings; it provides fund services to more than 4,500 retirement plan clients.

Chat and Chew - Executives from CUNA Mutual, the company that purchased CPI Qualified Plan Consultants in 2009, visit with Great Bend representatives during a luncheon in mid-April. "This is the first time I've been out to Great Bend," CUNA President Jeff Post said during the luncheon. "Great Bend is a long way from our office in Madison, Wisconsin, but it was a trip worth making." Pictured are CPI founder and president Bob Dema, Great Bend Mayor Mike Allison, Great Bend City Administrator Howard Partington, Great Bend Chamber & Economic Development President/CEO Jan Peters, and long-time Great Bend business man Dave Marmie, as well as CUNA executives Kevin Thompson, Jeff Post, and Jerry Pavelich.

CPI and CUNA Mutual serve more than 8,200 retirement plan clients with over 400,000 participants who have in excess of $10.5 billion in retirement savings.

“Our growth has been steady and gradual,” Dema commented. “And since CUNA Mutual wants us to aggressively expand, we are looking at a fair amount of growth in the next five years. Our clients are any legal entity that can maintain a retirement plan, including partnerships, corporations, non-profit organizations, public schools and colleges.”

In building a successful business, Dema noted, complete focus is required. Company leaders need to know where they want to go and have a long-term commitment to get there.

“Frankly,” Dema explained, “focus is the most effective tool anyone has for excelling. In addition, most employees want to feel part of something bigger than themselves and this can be achieved through a daily focus on getting better.

Break Time - Two CPI employees help themselves to some of the free soda offered in one of the two break rooms in CPI's expansive building. Besides free soda and popcorn, CPI employees can also browse the internet or check personal email on a shared break room computer or even sign up to receive a 15-minute massage in the massage room pictured below. "We feel like making our employees comfortable at work is very important," Human Resources Director Erika Brining says. "Little things like free soda and popcorn, as well as our complimentary concierge service help the employees feel appreciated for the work they do."

“This focus not only motivates but it allows you to outlast the competition. Even if they can temporarily compete with you, over the long haul they tend not to have the staying power,” he continued. “The nature of business is that your competition will lose its way and allow you to gain on them or take the lead.

“This is what CPI has done over the years, by growing a foundation of people who are the best at what they do. We have a culture of relentlessly improving our company day by day. We don’t worry about short-term failures but rather look at the long term and ask what we can change today to be better in the future.”

CPI’s philosophy about its employees is described in its vision statement that is part of the firm’s backbone. The statement mentions that CPI wants to give employees the freedom to grow, innovate and achieve, and to take pride in themselves, CPI and their community.

Other vision highlights include: the importance of family; the understanding that everyone is in this together; an environment of respect and acceptance where everyone is treated ethically and with fairness; encouragement for everyone to excel; and to be a company that attracts people who want more than just a job.

Behind the Scenes - A huge part of what CPI is known for is its pension administration. It would be very difficult, however, for CPI employees to administer those pension plans if it weren't for the high-tech equipment maintained by the company's IT department. IT employees are also responsible for maintaining the several hundred computers, copiers, and printers at both CPI locations.

The brochure for new employees backs up this vision. In addition to a comprehensive list of traditional benefits such as insurance and retirement, there is a list that is not so traditional. It includes complimentary beverages and popcorn on the job; casual dress code; concierge services; and on-site massage therapy. (Yes, it’s in black and white.)

“CPI is employee-friendly because you cannot properly serve clients without employees who are happy, engaged and fully committed to our mission,” Dema said. “I know of no business that provides a superior level of service if their employees are not happy.”

Community Change Catalyst

Anyone who knows Bob Dema will understand that his industry and community activities comprise a lengthy list. So, only a few items can be mentioned here.

Citizen Change Agent - CPI founder and President Bob Dema is pictured accepting the Chamber's Citizen of the Year Award for his outstanding efforts in economic development and community revitalization. In addition to founding the company that is now Great Bend's largest private employer, Dema has also worn several hats in the Great Bend community over the last forty years. Bob and his wife, Carol, were founding donors for the Golden Belt Community Foundation and continue to support the non-profit organization today. Most recently, he has served on the board of directors for Central Kansas Medical Center, as chairman for the United Way of Barton County board of directors, and as a member of the Amber Meadows housing development committee.

Dema is a Certified Pension Consultant with the American Society of Pension Actuaries; a member of the American Institute and Kansas Society of CPAs; technical editor for AICPA self-study courses; was on the Editorial Advisory Committee for the Journal of Accountancy and editorial advisor for its Compensation and Benefits Section; has conducted many professional seminars; and was on the ASPA board and its treasurer.

Locally, Dema is a leader in the MyTown project, United Way and Chamber of Commerce, and is a Central Kansas Medical Center board member. He and his wife, Carol, are founding donors of the Golden Belt Community Foundation. For his service to the Great Bend community, Dema was awarded the 2009 Citizen of the Year Award from the Great Bend Chamber of Commerce & Economic Development.

Educational Partnership with Barton Community College

When new employees start working at CPI Qualified Plan Consultants Inc., they oftentimes don’t have a frame of reference for the company’s products and services. After all, not many of us are well versed in the complexities of pension administration.

For the layman: CPI takes care of pension plans for other companies; it handles their recordkeeping.

Since management understands that special training is required, CPI has built a solid relationship with Barton Community College.

“Typically, a new employee waits a few months before enrolling in the training,” said Erika Brining, CPI director of human resources. “The classes will have more value if you get a feel for the work we do first – kind of a taste of what we do.”

The ASPPA provides the curriculum for the technical training. The acronym stands for American Society of Pension Professionals and Actuaries.

“The college appointed Jane Howard to help us with this,” Brining said. “She has been designated as a 401(k) administrator and teaches two levels of the curriculum.”

Laura Harrington, a CPI employee, teaches the more advanced levels. The classes are offered on-site at CPI and students earn college credits.

“This has been in progress for many years,” Brining said. “The college has played a big role in our growth.”

And that growth continues. CPI currently has 500 employees and wants to add 30 administrators and 10 other positions this year.

“We are back in hiring mode,” Brining said. “We don’t see any end to that. We also have a good retention rate of the people that go through the training program because they have so much invested. It takes two years to earn the Qualified 401(k) Administrator designation. Then there is more training, if you want.”

CPI collaborates with the college’s Workforce Training and Community Education Division on this and other projects, including custom computer training and internships. CPI, in turn, offers some assistance in information technology and providing classroom speakers.