Pa. company buys Ridgewood third-party admin firm

A Ridgewood-based third-party administration firm has been acquired by Ascensus, the Pennsylvania-based savings solutions provider announced Tuesday.

INTAC Actuarial Services Inc. will become part of Ascensus’ TPA Solutions division, according to a news release. INTAC provides administration services for employer-sponsored retirement plans, with about 3,000 small to midsize companies as clients.

“As a family-run business, we pride ourselves on creating meaningful client relationships and on creating a culture in which employees feel like they’re part of the family,” Charles Rosenberg, INTAC’s vice president, said in a prepared statement. “As part of Ascensus, we’ll be able to combine our expertise with their resources to continue to provide a proactive, personalized client experience at every interaction with our firm, while also offering exciting growth opportunities to our employees.”

David Musto, Ascensus’ president, added:

“Like Ascensus, INTAC is committed to excellence in everything that they do — especially when it comes to making retirement plans work for their clients. INTAC has one of the lowest employee turnover rates in the industry and has been ranked as one of the best places to work in New Jersey; we’re pleased to have their associates join us to help Americans save for retirement.”

Financial terms of the deal were not disclosed.