Business in the Burbs

Pentegra acquires rival retirement provider’s units

August

Pentegra Retirement Services of White Plains, a provider of retirement products and services in the banking and credit union markets, is in the process of acquiring five subsidiaries of the holding company Retirement System Group Inc. Pentegra has purchased Retirement System Consultants Inc., Retirement System Investors Inc. and RSG Insurance Agency. It has agreed to buy RSGroup Trust Co. and Retirement System Distributors Inc. Financial terms were not disclosed. Retirement System Group operations and employees will continue to work at the company’s Shelton, Conn., and New York offices as well as Pentegra’s White Plains headquarters. Both Pentegra and Retirement System Group were established in the 1940s to offer retirement services for the banking industry.

This entry was posted on Friday, August 22nd, 2008 at 12:56 pm by Julie Moran Alterio.
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