San Diego – Economic Group Pension Services (EGPS) has acquired SMI Pensions to strengthen their clients’ needs on a national level. The acquisition was effective July 25, 2016.
Established in 1982, SMI Pensions specializes in the design and administration of qualified retirement plans. SMI Pensions serves clients with 401(k) plans, municipal plans, small employer retirement plans, and Taft-Hartley (multi-employer) plans. Bill Sheffler, the in-house actuary, was the company’s owner and CEO.
“Leading SMI for the last 34 years in San Diego and serving our local clients has been enormously rewarding,” Sheffler remarked, “and I look forward to an active role in business development and providing actuarial expertise as Executive Vice President of EGPS.”
The acquisition marks an exciting time for both companies. With access to the nationally-ranked actuaries and administrators of EGPS, SMI Pensions will be better equipped to work with various retirement plans. The integration of experienced staff and strong leadership will enable EGPS to provide more services to clients as well as a wider range of future clients.
“One of the reasons this partnership is exciting,” notes Daniel Liss, CEO of EGPS, “is that we will even better be able to serve our west coast clients.”
Founded in 1971, Economic Group Pension Services is an independent consulting firm that designs and administers retirement plans. With offices in New York, Alabama, Louisiana, and California, the company manages over 3,400 employee benefit plans for businesses owners and their employees across the country.