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Defined Contribution

Ascensus acquires Retirement Strategies Inc.

Ascensus, a defined contribution record keeper and administrator of 529 college and health savings plans, acquired Retirement Strategies Inc., a retirement plan administrator and designer, said an Ascensus spokeswoman in an email.

Terms of the deal were not disclosed.

Specifically, Retirement Strategies provides plan design, unbundled defined contribution and defined benefit administration, and ERISA consulting.

As of June 30, Ascensus had more than $155 billion in assets under administration.

Retirement Strategies Inc. marks Ascensus' ninth acquisition since last November.