Ascensus, a retirement plan service provider serving seven million participants, has agreed to acquire ASPERIA Retirement Plan Solutions, a third-party administrator (TPA) firm for defined benefit and defined contribution plans. ASPERIA will join Ascensus’ TPA Solutions division.
Based in Worcester, Massachusetts, ASPERIA (formerly Group Health & Benefit Administrators, Inc.), will become part of Ascensus’ TPA Solutions division, according to a release from Ascensus president David Musto, Brian K. Carroll, ASPERIA’s president and CEO and Raghav Nandagopal, Ascensus’ executive vice president of corporate development and M&A.
Based in Dresher, PA, Ascensus supports over 54,000 retirement plans, more than 4 million 529 education savings accounts, and a growing number of ABLE savings accounts. It also administers more than 1.5 million IRAs and health savings accounts. As of December 31, 2017, Ascensus had over $163 billion in total assets under administration.
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