Another month, another acquisition.
Retirement-savings service provider and tech solutions giant Ascensus is at it again, announcing yesterday its acquisition of third-party administrator 401k Plus.
401k Plus “has been providing employers throughout the United States with comprehensive benefit and benefit plan administrative and consulting services” since 1981, according to its website.
“At 401k Plus, we’re proud of our reputation for providing efficient, accurate, and affordable services to our clients,” John Cole, 401k Plus’s owner and vice president, said in a statement. “We’ll continue to build on this reputation as part of Ascensus as we work to develop retirement plan solutions that are tailored to the needs of companies and their employees.”
While specializing in the development and administration of participant-directed 401ks, the Arlington, Texas-based company also offers cash balance plans, defined benefit plans, profit sharing plans, money purchase pension plans, employee stock ownership plans and SEP/IRAs.
“As an organization, 401k Plus does a phenomenal job of getting to know their clients so that they can understand their businesses and employees,” added Jerry Bramlett, head of TPA Solutions at Ascensus. “This high-touch approach to service aligns nicely with the way that TPA Solutions engages with clients—we’re looking forward to strengthening our team through the addition of 401k Plus’ associates.”
Headquartered in Dresher, Penn., Ascensus has made a string of TPA acquisitions recently, including INTAC Actuarial Services, QBI and Continental Benefits Group just last month.
“401k Plus is a highly respected qualified plan administrator in Texas,” Raghav Nandagopal, Ascensus’ executive vice president of corporate development and M&A, said of the announcement. “In addition to establishing our TPA Solutions market presence in this important geographic region and continuing to expand our national footprint, this acquisition supports our growth strategy by increasing our defined contribution and defined benefit expertise to support current and prospective client needs.”
Jessa Claeys is a writer, editor and graphic designer.