Alliance Benefit Group Carolinas Becomes a Division of Pentegra Retirement Services

WHITE PLAINS, N.Y., Feb. 3, 2011 /PRNewswire/ -- Pentegra Retirement Services, a national provider of retirement products and services, has announced that Alliance Benefit Group Carolinas, a full service third party retirement plan administration and recordkeeping firm with locations in North and South Carolina, has become a division of Pentegra.  Alliance Benefit Group Carolinas is a member firm of Alliance Benefit Group, a national network of independently owned retirement plan consulting and administration firms. The firm currently manages the retirement plans of over 1,500 clients with nearly $1.5 billion in assets.

Robert C. Albanese, President and CEO of Pentegra Retirement Services, will oversee the combined entity. James Comer, former President of Alliance Benefit Group Carolinas, will continue to be part of Alliance Benefit Group.

Pentegra's President and CEO Robert Albanese said, "This transaction fits Pentegra's growth strategies in several areas. Along with its strong administrative and recordkeeping capabilities, Alliance Benefit Group Carolinas brings regional depth and scale as well as strong advisor servicing capabilities to Pentegra. The combined entity will increase our ability to meet client needs in a range of industries and offer an even broader array of advisor services, delivered in an even more effective manner."

"We are very pleased to have reached this agreement with Pentegra," added James Comer, former President of Alliance Benefit Group Carolinas. "While we will continue to offer the same core competency services, our relationship with Pentegra will provide us with greater flexibility to meet the growing and changing needs of financial advisors and plan sponsors, and capitalize on the deep bench strength and experience that Pentegra's team offers."

Clients of Alliance Benefit Group Carolinas will continue to be serviced by their current team.  Alliance Benefit Group Carolinas operations and personnel will continue to operate out of their existing North and South Carolina locations.

Pentegra Retirement Services is a leading provider of retirement products and services to organizations nationwide. Founded by the Federal Home Loan Bank System in 1943, today Pentegra's retirement solutions are as diverse as the clients it serves. Pentegra offers a comprehensive array of full service retirement programs, including 401(k) plans, defined benefit pension plans, ESOPs, KSOPs, profit sharing plans, 403(b) and non-profit plans, 457(b) and 457(f)  plans, executive benefit and director plans, BOLI and full-service private label retirement programs.

For more information, go to www.pentegra.com.

SOURCE Pentegra Retirement Services