PEORIA, Ill., April 11, 2011 /PRNewswire/ -- Alliance Benefit Group of Illinois (ABG) reached a corporate milestone in the first quarter of 2011, surpassing $2 billion in assets under administration. As of March 31, the company reported over $2.1 billion of retirement plan assets for which it provides daily valuation recordkeeping and administration service.
Achieving the $2 billion asset mark has placed ABG in very select company among retirement plan administrators across the country. The Peoria based company is now in the top 1% (ranked by assets under administration) of retirement plan advisors in the USA (as reported by RIADatabase.com). A recent survey of member firms of the American Society of Pension Professionals and Actuaries, ASPPA, showed the company serves more than twice the average assets under administration among those firms who serve at least $500 million in assets.
John Blossom, CEO of ABG of Illinois, said that this is an achievement the organization has pursued for many years.
"This is a continuation of our overall business strategy," said Blossom. "As we have focused on providing exceptional service and cutting-edge retirement tools, we are seeing a marked increase in the assets in which our clients have entrusted us to administer. As one of the larger providers in the country, we have the real capability of handling plans of all types and sizes."
Reaching this level is also a reflection of the renewed focus that many employers are placing on retirement plan strategies.
"We are seeing more focus in recent years from progressive employers who truly care about the success of their employee's future retirements. These companies understand the value of assisting in these efforts as best they can. When you couple that with the improving business climate, we believe that we are well positioned to continue this growth."
Contact: John Blossom, CEO Alliance Benefit Group of Illinois, 800-242-2356
Headquartered in Peoria, Ill., ABG (www.abgil.com) provides recordkeeping, administration, and investment consulting and advisory services to retirement plans with a total of more than $2 billion of plan assets. It was founded in 1968 and currently has over 70 employees.
ABG is a licensee of Alliance Benefit Group, LLC (www.abgnational.com), a national network of independently-owned retirement plan consulting, investment advisory, health and welfare consulting and benefits administration firms. Collectively, the ABG network serves retirement plans with a total of more than $12 billion of assets and nearly 400,000 plan participants.
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SOURCE Alliance Benefit Group of Illinois