DRESHER, Pa., July 30, 2018 /PRNewswire/ -- Ascensus, a technology-enabled solutions provider that helps more than 8 million Americans save for the future, has entered into an agreement to acquire Continental Benefits Group, Inc. (Continental Benefits). The third-party administration (TPA) firm will immediately become part of Ascensus' TPA Solutions division.
Based in Burlington, New Jersey, Continental Benefits specializes in tax-qualified retirement plans—like 401(k), profit sharing, cash balance, and pension plans—along with non-qualified deferred compensation plans. The firm's plan administrators are experienced in tackling the day-to-day complexities of retirement plans from compliance testing to distribution processing, while its consultants possess intricate knowledge about sophisticated plan designs than can help employers maximize plan benefits.
"TPA Solutions is looking forward to welcoming Continental Benefits' associates and incorporating their skill sets into our business," says Jerry Bramlett, head of TPA Solutions. "Members of Continental Benefits' actuarial & plan consulting and administration teams average nearly 20 years of experience; we'll put the expertise they've acquired over that time to good use in helping individuals prepare for retirement."
"At Continental Benefits, we understand the challenges that business owners face, including rising taxes and business expenses, retaining talented employees, and others," states David Hanisco, Continental Benefits' vice president. "Joining Ascensus will make us even better equipped to design retirement programs that meet plan participants' needs while helping employers work toward accomplishing their own retirement goals."
"Continental Benefits is an ideal addition to our company from business, geographic, and cultural standpoints," says Raghav Nandagopal, Ascensus' executive vice president of corporate development and M&A. "We are delighted to welcome their clients and associates to Ascensus."
Ascensus helps more than 8 million Americans save for the future—retirement, education, and healthcare—through technology-enabled solutions. With more than 35 years of experience, the firm offers tailored solutions that meet the needs of asset managers, banks, credit unions, state governments, financial professionals, employers, and individuals. Ascensus supports over 60,000 retirement plans, more than 4 million 529 education savings accounts, and a growing number of ABLE savings accounts. It also administers more than 1.6 million IRAs and health savings accounts. As of March 31, 2018, Ascensus had over $187 billion in total assets under administration. For more information about Ascensus, visit ascensus.com.