Ascensus Continues to Build Upon Qualified Retirement Plan Consulting and Administration Expertise with Agreement to Acquire Pension Works

Acquisition of Vermont-Based TPA Expands Firm's Northeast Presence

News provided by

Oct 30, 2018, 13:00 ET

DRESHER, Pa., Oct. 30, 2018 /PRNewswire/ -- Ascensus—whose technology and expertise helps millions of people save for retirement, education, and healthcare—has entered into an agreement to acquire Pension Works, Inc. The third-party administration (TPA) firm will immediately become part of Ascensus' TPA Solutions division.

Based in Colchester, Vermont, Pension Works provides comprehensive services to qualified retirement plan sponsors. The firm, whose clients range from multinational corporations to small, family-owned businesses, custom-tailors retirement programs which work together with existing employee benefit packages. Areas of expertise include plan design and consulting; defined contribution, 403(b), and employee stock ownership plan administration; and defined benefit plan and actuarial support.

"Pension Works has put a lot of effort into making itself a complete administrative resource for qualified plan clients," says Jerry Bramlett, head of TPA Solutions. "Their consultants and technicians—with their vast knowledge of plan design, administrative support, compliance testing, and more—will be a welcome addition to TPA Solutions."

"At Pension Works, we provide comprehensive personal services, meticulous attention to detail, and timely dedication to the long-term needs of our client sponsors and their plan participants," states Joseph Palchak, Pension Works' president. "We're looking forward to taking advantage of Ascensus' scale to ensure that current and future clients receive the support that they need for their qualified retirement plans."

"Joining Ascensus will greatly benefit our clients, as it will allow us to raise our services to the next level," adds Tim Voigt, Pension Works' vice president. "Ascensus' resources will help us to develop new strategies for going above and beyond to ensure top-notch work while maintaining our allegiance to our clients and their best interests."

"Pension Works' strong service model, outstanding technical expertise, and commitment to successful client outcomes make them a perfect fit for Ascensus," says Raghav Nandagopal, Ascensus' executive vice president of corporate development and M&A. "The Northeastern U.S. continues to be an important expansion market for us; we welcome Pension Works' talented group of associates to Ascensus."

About Ascensus
Ascensus is the largest independent recordkeeping services provider, third-party administrator, and government savings facilitator in the United States. The firm delivers technology and expertise to help millions of people save for what matters most—retirement, education, and healthcare. For more information about Ascensus, visit ascensus.com. View career opportunities at careers.ascensus.com/page/show/tpa and careers.ascensus.com.

SOURCE Ascensus