WALNUT CREEK, Calif., June 27, 2007 (PRIME NEWSWIRE) -- Contemporary Pensions & Insurance Services, Inc. (CPI) is now part of Portal Group Holdings, Inc. (PORTAL), a private holding company that, through its subsidiaries, provides benefits administration and insurance agency services, meeting the needs of both non-profits and mid-sized companies. Merging the two companies allows PORTAL to expand their suite of benefits, insurance and HR services -- including 403(b) and 401(k) plans, payroll services, cafeteria plans and other retirement programs -- to small and mid-sized companies within various industries.
"This merger positions us to ensure our clients will have access to the most competitive and advantageous programs available in the marketplace today and in the future," Charles Yeomans, President and CEO of PORTAL said. "Our vision is to build on our excellent client service for benefits by adding top quality partners, like CPI, to offer a deeper suite of HR solutions. Mike and his team share our client centric values and are a wonderful and welcome addition to PORTAL."
"This is a great opportunity for our clients and employees. In joining with PORTAL, everyone's a winner," Mike Weintraub President of Contemporary Pensions & Insurance Services, Inc. said. "Clients of PORTAL, CPI and companies we have not even met, will have just one place to go for group benefits, payroll, retirement plans and Human Resource services. We are excited and ready to be a part of PORTAL -- one of the most successful benefits providers in California."
Weintraub is a member of the Qualified Plans Committee of the Association for Advanced Life Underwriting (AALU), and a member of the Million Dollar Round Table (MDRT) and its exclusive Top of the Table. He is a subject matter expert on single sourcing -- finding the single point of contact, as well as drawing from true expertise, for all HR benefits and services -- the topic of his June 12, 2006 article in National Underwriter. He is a frequent contributor to NU and other industry trade publications.
About PORTAL Group Holdings, Inc.
PORTAL Portal Group Holdings, Inc. (PORTAL), a private holding company that through its subsidiaries provides benefits administration and insurance agency services, is based in Walnut Creek, California. Celerity Partners, Inc., a private equity fund, is the lead investor of PORTAL, in addition to a Board of industry veterans; Barney Mizel, the co-founder and former Chairman of USI; John Addeo, founder and former CEO of Alliant Resources Group; and Dick Riley, former President of AON Americas.
PORTAL is a full service benefits and insurance brokerage, outsourced administrator and HR partner serving non-profit entities and mid-sized companies with best practices in high-quality employee benefits, insurance plans, risk management services and HR programs. PORTAL has segment leading customer support through full-service benefits outsourcing including eligibility management, billing and premium accounting (including bill reconciliation), COBRA, live customer support and assistance. As a broker they provide access to a wide range of benefits options including: medical (including HSAs), dental, vision, life, accident, disability, voluntary plans, flexible spending accounts, retirement plans -- 401(k)/403(b) and employee discount programs.
Trust PORTAL Insurance Agency to open the door to cost-effective, efficient programs for your people and organization. For more information visit www.portalcompanies.com or call 925.937.8787.