Tegrit Group Announces Sale of Tegrit Administrators, LLC

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Tegrit Group announced today that it will sell its assets of Tegrit Administrators, LLC to Alerus Financial effective September 30, 2013.

Tegrit Group announced today that it will sell its assets of Tegrit Administrators, LLC to Alerus Financial effective September 30, 2013. Tegrit Administrators is located in Spartanburg, South Carolina and provides recordkeeping services for approximately 1,875 plans.

The sale of Tegrit Administrators will allow Tegrit Group to continue to more rapidly grow the core businesses of actuarial consulting (both public and private), retirement plan services, and pension technologies. The company is focused on capitalizing on the many opportunities that continue to arise in its three key divisions.

"After assessing the capacity of our recordkeeping business and the significant investments needed to grow it, we decided that our clients would be best served with a new recordkeeping partner," said Mike Spickard, CEO of Tegrit Group. "Alerus was the natural fit to buy our business due to their stellar reputation for client service, geographical footprint, common values, advanced systems, security and competitive positioning for continued growth. Tegrit Group looks forward to continuing to serve many of our recordkeeping clients in consulting, technology and compliance roles."

ABOUT TEGRIT GROUP

Tegrit Group is a national leader in retirement plan consulting, plan administration and technology services for public and private plan sponsors. With over 150 associates, our team includes experts in the pension industry with decades of private and public sector experience focused on delivering tools and consulting that support the culture, needs and goals of a broad based spectrum of retirement plan services.

Tegrit Group provides services to more than 2,000 employers and is headquartered in Akron, Ohio.

For more information, visit tegritgroup.com or call 1.877.7.Tegrit (1.877.783.4748).

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Greg McAbee
Tegrit Group
+1 (330) 983-0588
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