Existing employees of IRA Services division will remain with the business
Crump Group’ Ascensus division, recordkeeper and administrator for retirement plans, has signed an agreement to acquire CUNA Mutual Group’s IRA Services division. Its a provider of IRA and health savings account education and compliance products and services, based in Madison.
As per the agreement, existing employees of CUNA’ IRA Services division, and the current management structure, will remain with the business, and operate under the Retirement Products & Solutions Group, within Ascensus.
John Howard, President and CEO, Crump Group, said: “Adding IRS Services to our retirement services division is consistent with Crump Group’s strategic intent to enhance our leadership position in the retirement services marketplace with both scale and diversity.”
Jeff Post, President and CEO, CUNA Mutual, said: “This action reinforces our efforts to refocus our company on those products that are core to our customers and to CUNA Mutual’s future success.”
The transaction is expected to close on July 31, 2009.