Ascensus Announces Acquisition of Retirement Plan Administrative Service, Ltd.

Addition of Retirement Administration Firm Expands Ascensus Consulting Business

News provided by

Jun 27, 2017, 13:00 ET

DRESHER, Pa., June 27, 2017 /PRNewswire/ -- Ascensus, a technology and solutions provider that helps more than 7 million Americans save for the future, has announced the acquisition of independently owned Retirement Plan Administrative Service, Ltd. (RPAS), an actuarial, consulting, and administrative services firm headquartered in Richmond, Virginia that specializes in qualified plan design, installation, government compliance, and administration.

RPAS, which will become a part of the Ascensus Consulting line of business, provides services that are designed to help plan sponsors maximize the value of their retirement plan. Established in 1981, the firm maintains the highest level of technical and quality control standards while emphasizing responsive and personalized service. Because RPAS is fully independent from investments, it can offer each of its clients a variety of service options based on an employer's business needs and goals. In addition, the firm has a long history of administering Employee Stock Ownership Plans (ESOPs).

"RPAS is recognized as a premier administration firm for qualified retirement plans," states Shannon Kelly, Ascensus' president of retirement. "This acquisition is in line with our goal of aggressively expanding our Ascensus Consulting business as well as Ascensus overall. I'm pleased to welcome RPAS' clients and associates to Ascensus Consulting and am excited to add ESOP services to our product offering."

"Becoming part of Ascensus Consulting and gaining access to its resources will allow us to provide the best possible plan design and operation while remaining committed to personal service," says Burl V. Bachman, president of RPAS. "Our clients can rest assured in the knowledge that we'll continue to always act in their best interests and maintain loyal relationships that are based on trust and integrity."

About Ascensus
Ascensus helps more than 7 million Americans save for the future—retirement, college, and healthcare—through technology and service solutions. With more than 35 years of experience, the firm offers tailored solutions that meet the needs of banks, credit unions, states, governments, financial professionals, employers, and individuals. Ascensus supports approximately 50,000 retirement plans, more than 4 million 529 college savings accounts, and a growing number of ABLE savings accounts. It also administers more than 1.5 million IRAs and health savings accounts. For more information about Ascensus, visit www.ascensus.com.

View career opportunities at careers.ascensus.com or on LinkedIn at linkedin.com/company/ascensus. For the latest company news, follow @AscensusInc on Twitter.