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Tegrit Merges with Summit Retirement Plan Services, Inc.
Date:5/2/2010

The Tegrit Group (“Tegrit”) today announced it has entered into a definitive agreement to acquire Summit Retirement Plan Services, Inc. (“Summit”). Summit’s expertise in providing actuarial consulting and plan administration to private sector plan sponsors will be combined with Tegrit’s advanced plan administration software technology and other post-employment benefit solutions provided primarily to non-profit and governmental plan sponsors.

Livonia, MI, and Akron, OH (PRWEB) May 2, 2010 -- The Tegrit Group (“Tegrit”) today announced it has entered into a definitive agreement to acquire Summit Retirement Plan Services, Inc. (“Summit”). The transaction closed on April 23, 2010.

Michael M. Spickard, Summit’s current CEO, will take the reins as Tegrit’s new CEO and Chairman of the Board. The new enterprise will be managed through Summit’s Akron-area headquarters, employing nearly 100 associates at its four office locations in Ohio, Michigan and South Carolina. The combined entity serves over 1,500 plan sponsors and retirement plan advisors in 40 states, representing more than 200,000 plan participants.

“This is truly a complementary, strategic fit with virtually no redundancy in Summit’s or Tegrit’s core competencies,” said Mr. Spickard. “The retirement plan landscape is changing rapidly with increased scrutiny for both public and private sector plans. The uniting of Summit and Tegrit creates a versatile firm that can consult with clients regarding these emerging issues while providing innovative recordkeeping technology for plan sponsors seeking either ala-carte or end-to-end solutions.”

Summit’s expertise in providing actuarial consulting and plan administration to private sector plan sponsors will be combined with Tegrit’s advance
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