Ascensus Acquires Two Retirement Plan TPAs

Ascensus — a big independent benefit plan administrator, or “third party administrator” (TPA) — has acquired two smaller TPAs.

The Dresher, Pennsylvania-based company recently announced that it has acquired INTAC Actuarial Services Inc. of Ridgewood, New Jersey, and QBI LLC of Woodland Hills, California.

(Related: Genstar, Aquiline Mull Sale of Retirement Plan Administrator Ascensus)

Ascensus manages $187 billion in assets for about 8 million people, including participants in about 60,000 retirement plans, holders of 4 million 529 education savings accounts, and holders of 1.6 million individual retirement accounts and health savings accounts.