NU Online News Service, June 1, 1:05 p.m. – The BISYS Group Inc., Little Falls, N.J., is buying Universal Pensions Inc., Brainerd, Minn., for $85 million.

Universal Pensions, founded in 1975, administers 4,000 401(k) plans, operates a major retirement plan training program, and wrote the prototype plan documents used to set up 4 million individual retirement accounts and thousands of employer-sponsored retirement plans, BISYS says.

BISYS?f own retirement services unit administers 11,000 401(k) plans.

Acquiring Universal Pensions should help BISYS offer a broader array of services and win more business administering small and mid-size 401(k) plans, BISYS says.