TSA Consulting Group, Inc. announced April 29 that it has acquired the 403(b) Solutions Program from Security Financial Resources, Inc. The deal greatly expands the reach of TSA, a Fort Walton Beach, Fla.-based independent provider of retirement plan compliance and administration services whose clients primarily are public education employers.
With the deal, TSA’s clients now include more than 2,000 public school districts in 47 states, and 12 of the 25 largest U.S. school districts. In all, TSA now serves more than 1 million public school employees.
TSA offers the plans that serve those employees plan documents, recordkeeping, online transaction and remittance processing, employee communication and other employer and participant services. TSA Consulting Group Chief Operations Officer Steve Banks hailed the acquisition as a good thing not only for TSA but also those it now serves. “We are excited about this opportunity and confident in our systems and capacity to deliver truly independent plan administration services to a greater number of public education employees,” Banks said in a press release.
John Iekel is Senior Writer and Editor of the NTSA Net and ASPPA Net portals.
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