CBIZ Acquires Georgia Pension Admin Firm

Woodstock, Georgia-based Pension Resource Group (PRG) provides pension administration solutions including defined benefit administration, data warehousing, benefit communication, compensation statement and human capital services to clients ranging in size from 500 to over 60,000 participants. PRG has 35 employees and reports that it recorded approximately $4.8 million in revenue over the past 12 months. PRG’s co-founder, Michael Croyle, cited CBIZ’s culture and service offerings as a perfect fit for PRG’s associates and clients.

CBIZ provides professional business services—including accounting, tax, financial advisory, government health care consulting, risk advisory, real estate consulting, and valuation services—to help clients better manage their finances and employees. Employee services include employee benefits consulting, property and casualty insurance, retirement plan consulting, payroll, life insurance, HR consulting, and executive recruitment. Services are provided through more than 100 offices in 34 states.

“By combining PRG’s experienced pension consultants and actuaries, along with their propriety IPASMaster pension software platform, with our growing and nationally recognized CBIZ Retirement Plan Services business we can provide a total retirement solution that will better serve our clients,” Steve Gerard, chairman and chief executive of CBIZ, said in a statement.

The acquisition was effective October 1. Terms of the deal were not disclosed.