Ascensus Acquires Retirement Plan Administrator 401(k) Plus
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 401(k) Plus.
401(k) 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 401(k) Plus, we’re proud of our reputation for providing efficient, accurate, and affordable services to our clients,” John Cole, 401(k) 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 401(k)s, 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, 401(k) 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 401(k) 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.
“401(k) 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.”
Jessica Claeys is an editor, writer, and graphic designer, who has been creating both print and digital marketing and communications content for 10+ years.
Jessa Claeys is a licensed insurance producer in the state of Colorado and an insurance editor for Bankrate. She currently covers auto, home and life insurance with the goal of helping others secure a healthy financial future. Jessa has over a decade of experience writing, editing and leading teams of content creators. Her work has been published by several insurance, personal finance and investment-focused publications, including BiggerPockets, 401(k) Specialist, BP Wealth and more.
