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Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
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Go deeper on emerging topics, as well as key firms and thought leaders
June 01, 2001 at 08:00 PM
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.
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