The combined company will operate under the name Altigro to provide retirement plan services to more than 750 employers. Both IPA and Altigro were established in the early 1970s and provide actuarial consulting and third-party administration of qualified retirement plans.
“IPA is a great fit for us,” said Steve Greenbaum, president of Altigro Pension, pointing to IPA’s decades of client service. “IPA’s team will help us grow our client offerings.”
Marvin Scherb, IPA’s president and founder, said that Altigro shares the same values as IPA. Both companies use SunGard’s Relius Administration software and anticipate a smooth transition for clients. Greenbaum said Altigro intends to make the changeover seamless for IPA clients, and that the people and tools are in place to do so. In addition to maintaining platform consistency, Altigro intends to retain many of IPA’s staff.
Altigro Pension Services is in Fairfield, New Jersey, while IPA Northeast is in Cranford, New Jersey. More information is at Altigro’swebsite.