Compensation Solutions Nominated for 
“New Jersey Family Business of the Year Award " 

Prestigious awards program acknowledges the importance of family-owned businesses in 
helping the Garden State maintain a resourceful and vibrant economy

Oakland, New Jersey – May 10, 2005  Compensation Solutions, one of the tri-state area’s leading Professional Employer Organizations, today announced that it has again been nominated for the prestigious "New Jersey Family Business of the Year Award”. Now in its thirteenth year, the program recognizes the significant contributions that family businesses make to the growth and development of the state and local business community. Sponsors include the Rothman Institute for Entrepreneurial Studies at Fairleigh Dickinson University, PNC Bank, and PriceWaterhouseCoopers, among others. At the awards luncheon in October two winners will be announced - one in the category of revenues up to $10 million and the other with revenues of over $10 million. Winners are eligible for the National Family Business of the Year competition and are featured in New Jersey Monthly. Previous winners include Grinnell Pavingstone, Inc. of Sparta and Gateway Security, Inc. of Newark in the over $10 million category and Capalbo’s Gift Baskets, Inc. of Nutley and The Timothy E. Ryan Home for Funerals of Toms River in the up to $10 million category.

"It is truly an honor to be chosen from among the many excellent companies nominated for this award," said Thomas J Cioffe, Compensation Solutions's Chairman and CEO. "Almost eight years ago, we opened for business with a small group of committed family members. The Compensation Solutions team has now grown to more than fifty members and – while all are not family in the true sense - each person plays a key role in the success of our business. We believe in the power of people and their ability to achieve the extraordinary through teamwork.” Compensation Solutions has claimed several other awards, including being selected as a New Jersey finalist four years in a row for the Ernst & Young Entrepreneur of the Year® (“EOY”) award. The EOY program recognizes a select group of entrepreneurs whose ingenuity, hard work and perseverance have created and sustained successful, growing business ventures; entrepreneurs who represent the dynamic, resilient and innovative spirit of New Jersey’s diverse business community.

About the Rothman Institute of Entrepreneurial Studies

The mission of the Rothman Institute of Entrepreneurial Studies at Fairleigh Dickinson University is to foster entrepreneurship in the academic and business communities. Since 1989, the Institute has been supporting entrepreneurship by offering innovative academic and outreach programs on the local, regional and global levels. An outstanding entrepreneurship curriculum taught by an excellent faculty has helped to make the academic program one of the finest in the nation.

About the Family Business Forum

The Rothman Institute of Entrepreneurial Studies established the Family Business Forum in 1992 to support family businesses. The Forum is designed around outcome-oriented educational programs and seminars, and provides family businesses in the metropolitan area with the opportunity to learn from leading experts on issues related to owning and operating a family business. The Forum also provides members with the opportunity to exchange ideas and learn from one another’s shared experiences. Programs are designed to foster maximum interaction and participation by addressing issues of specific concern to those in attendance. The members-only environment results in long-term relationships based on mutual trust and understanding, which fosters open communication among members regarding both family and business issues. 

Each year the Institute coordinates with other corporations and sponsors the “New Jersey Family Business of the Year Awards” which recognizes the finest family businesses in the state.

About Compensation Solutions

Compensation Solutions is a leading professional employer organization (PEO) that serves as a full-time outsourced human resource partner for small and mid-sized businesses throughout the tri-State area and the United States. Compensation Solutions’ headquarters is located in Oakland, NJ with offices in Manhattan. By managing employee benefits, human resources, payroll and workers’ compensation administration, Compensation Solutions allows its clients to focus on their core competencies to maintain and grow their bottom line. For additional information, please visit our website at www.CompSolutionsinc.com.