U.S. Retirement Partners Acquires Industry Leader
Florida Company Joins National 403(b) Provider
ISELIN, N.J., January 31, 2009—U.S. Retirement Partners (USRP), a 403(b) benefits provider, announced today that it has acquired a prominent Florida company to be part of its national network serving the educator market.
The latest acquisition, BENCOR Inc., is a Sarasota, Florida specialist founded in 1990 by Corky Taylor, President and CEO and Hugh Bishop, General Counsel. BENCOR, Inc. specializes in the design, implementation and administration of specialized, qualified and non-qualified retirement plans for public employees throughout the United States. BENCOR is a leading designer and the leading provider of 401(a), 403(b) and 457 Special Pay and FICA Alternative Plans.
“BENCOR pioneered the marketplace they serve and have saved school districts and municipal entities hundreds of millions of tax dollars,” said Mark Skinner, U.S. Retirement Partners (USRP) President and CEO.
He noted that BENCOR manages more than $750 million of retirement savings throughout the United States.
“There are significant opportunities nationally to help school districts and municipalities reduce their costs and help their employees save for retirement. This relationship puts BENCOR in a terrific position to combine our expertise with the local relationships of USRP firms through the U.S.,” said Taylor, a 30-year veteran of the financial services industry.
“We are very happy to welcome BENCOR to the USRP family. They are the definition of an industry leader and the principals are acknowledged as the architects of these innovative cost-savings programs,” said Robert C. Dughi, Executive Chairman of the Board of USRP.