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Pentegra Scoops Up Most Of RSGroup

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One bank retirement services vendor is in the process of acquiring another bank retirement services vendor.

Pentegra Retirement Services, White Plains, N.Y., says it already has acquired 3 major subsidiaries from Retirement System Group Inc., Lake Success, N.Y., and has applied for permission from regulators to acquire the holding company’s other subsidiaries.

Pentegra and RSGroup both sell retirement plans to banks and other financial services companies.

Pentegra has not said how much it is paying for the RSGroup operations.