Prime Pensions Acquires Presberg
Prime Pensions, Inc. a retirement plan administration, consulting and compliance services provider based in Florham Park, NJ, has acquired Presberg Pensions, a third-party administrator of retirement plans based in Westlake Village, CA.
Under the acquisition, Presberg’s clients and partners will have access to Prime Pensions’ technology solutions and plan administration services.
Financial terms of the transaction were not disclosed.
“California and the West Coast represent a critical market in our nationwide expansion strategy,” said Scott Feit, founder and president of Prime Pensions. “The strategic acquisition of Presberg strengthens our presence in the largest small business state and aligns with our mission to provide high-touch, customized services to retirement plan sponsors across the U.S. We are committed to pairing local expertise with national resources, ensuring that plan sponsors and financial advisors receive exceptional service, broader capabilities, and long-term support.”
Founded in 2003, Presberg administers retirement plans for small to mid-sized employers across California.
“This acquisition reflects a shared vision for advancing retirement readiness through personalized service and innovative solutions,” said Bob Presberg, president and actuary of Presberg Pensions. “By joining forces with Prime Pensions Inc, I am confident our clients will gain even greater value through expanded capabilities without losing the dedicated attention they have come to expect. I am excited about this new chapter for Presberg Pensions and look forward to continuing the great relationships that have been established over many years with my clients and their advisors.”
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Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with nearly a decade of experience and a passion for telling stories and reporting news. She is originally from Queens, New York, but now resides in Denver, Colorado.
