Ascensus, the 401(k) recordkeeper and benefits administrator that handles Vanguard’s small-plan 401(k) business, has agreed to buy INTAC Actuarial Services, Inc., a third-party administration (TPA) firm. Based in Ridgewood, NJ, INTAC will become part of Ascensus’ TPA Solutions division.
INTAC administers employer-sponsored retirement plans for about 3,000 small to mid-sized companies, their owners, key executives and employees. INTAC also provides ongoing education to their clients and the professionals in the communities they service to ensure that they remain abreast of industry changes and issues.
“The tri-state [New Jersey, New York and Pennsylvania] and greater Delaware areas are important market expansion opportunities for our TPA Solutions division,” says Raghav Nandagopal, Ascensus’ executive vice president of corporate development and M&A. “With its strong historical growth, successful long-term track record, and associate-focused culture, INTAC is an ideal business to help Ascensus achieve its immediate and long-term growth plans.”
Ascensus, based in Dresher, PA, supports more than 60,000 retirement plans, more than four 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.
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