#USA #Retirement Plans #Prime Pensions #Florham Park #Presberg Pensions

Prime Pensions Expands Its Footprint in California

In a significant move to enhance its presence in the California retirement market, Prime Pensions, Inc. (PPI) has announced the acquisition of Presberg Pensions, a respected third-party administrator for retirement plans based in Westlake Village, California. This strategic acquisition marks a pivotal moment for Prime Pensions, allowing it to broaden its service offerings and reach in one of the largest retirement plan markets in the United States.

Founded in 2003, Presberg Pensions has earned a strong reputation for its commitment to accurate and compliant retirement plan administration for small to mid-sized employers throughout California. The acquisition is poised to benefit Presberg's clients, granting them access to Prime Pensions' extensive national resources, advanced technology, and comprehensive plan administration solutions.

Scott Feit, Founder and President of Prime Pensions, emphasized the importance of this acquisition in their broader growth strategy. He stated, “California and the West Coast represent a critical market in our nationwide expansion strategy. The strategic acquisition of Presberg strengthens our presence in the largest small business state and aligns with our mission to provide high-touch, customized services to retirement plan sponsors across the U.S. We are committed to pairing local expertise with national resources.” Such a blend not only aims to enhance service efficiency but also strives to ensure that plan sponsors and financial advisors receive exceptional support and capabilities.

The addition of Presberg to Prime Pensions' operations is seen as a vital step toward fulfilling their mission of advancing retirement readiness through personalized service. Bob Presberg, President and Actuary of Presberg Pensions, expressed his belief in the partnership's potential to deliver enhanced value to clients while maintaining the dedicated attention they are accustomed to.

He remarked, “This acquisition reflects a shared vision for advancing retirement readiness through personalized service and innovative solutions. By joining forces with Prime Pensions Inc., I am confident our clients will gain even greater value through expanded capabilities.” This sentiment highlights the commitment both companies share towards improving retirement services in a rapidly evolving industry.

Prime Pensions is dedicated to providing tailored retirement plan administration and consulting, primarily targeting small and medium-sized businesses across the nation. By integrating Presberg's client-oriented approach with its own robust operational framework, Prime Pensions aims to set a new standard for retirement plan management.

The acquisition not only solidifies Prime Pensions' leadership in retirement plan administration but also showcases its ambition to remain at the forefront of the retirement solutions industry. As they continue to expand their regional presence, the company remains focused on delivering quality-driven administration, compliance expertise, and scalable technology platforms to its growing client base.

As the retirement landscape becomes increasingly complex, Prime Pensions' strategic acquisition of Presberg Pensions represents a proactive approach to meeting client needs with confidence, innovation, and a firm commitment to exceptional service. This merger is expected to usher in a new era of retirement plan management, enabling clients to benefit from the combination of local insight and expansive resources. With both companies now united, the future looks promising for their clients and partners alike.