Acquisition Expands Market Footprint into the Upper Midwest and adds a Retirement Planning and Seasoned Executive to the Retirement LLC Team.
NORTHBROOK, Ill., July 9, 2013 /PRNewswire/ – Retirement, LLC, based in Oklahoma City, OK, today announced that it has signed a definitive agreement to merge with third party administrator (TPA) I AM, Inc. of Traverse City, MI. The transaction closed in June 2013.
I AM, Inc. is a retirement plan consulting organization advising and assisting companies with their qualified retirement planning. Since they were acquired by Randall Kamps in 2001, I AM, Inc. has been a trusted retirement planning partner with a wealth of knowledge in this market.
"We believe that by adding I AM, Inc. to Retirement, LLC, we will continue to grow our market reach which now serves Michigan and the entire upper Midwestern part of the United States said Robert Krypel, CEO of Retirement, LLC. Randy will be leading the business development efforts in that region of the country while helping Retirement LLC add additional services which will continue to add value to his loyal client base. We have other TPA organizations in our pipeline and hope to close additional transactions very soon.
"The quality and scale of Retirement LLC's service delivery was the key ingredient which led us to consummate this merger," said Randall Kamps, I AM, Inc. President and CEO. "We are committed to grow and consolidate this market segment and having a market presence to serve this Client-base is strategic to our mission," said Robert Krypel, CEO of Retirement, LLC. "We will continue to grow but never compromise our quality of the service that we provide to our clients. We are thrilled to have I AM, Inc. as part of our growing organization, and we welcome them to the Retirement, LLC family."
"Joining forces with Retirement, LLC was a significant decision for our organization. We now have the infrastructure which will allow us to enhance the value proposition for our current clients as well as introduce it to any size organization here in Michigan and throughout the upper Midwest. This opportunity was approached with great care and due diligence but in the end I know we made the right decision. I can't wait to get started," added Kamps.
About Retirement, LLC
Retirement, LLC is an independent third party administration firm and record-keeper for tax-qualified retirement plans. The firm operates from offices in Oklahoma City, OK, with its corporate headquarters in Northbrook, IL. Retirement, LLC provides consulting, record-keeping, and plan administration services to more than 1400 plans. Its employed staff includes a client management team, 2 ERISA attorneys and 2 licensed actuaries. Plans include defined benefit and cash balance, defined contribution, profit sharing, 401(k), ESOP, and 403(b) plans. Plans range in size from 1 to 2,500 participants.
Terms of the transaction were not disclosed. Wallingford Partners, LLC was the advisor to Retirement, LLC in this merger.
Tim Tolan, Senior Partner
Wallingford Partners, LLC