EPIC Retirement Plan Services signed a definitive agreement to acquire fellow record keeper Alliance Benefit Group of Illinois.
Terms of the deal, which is expected to close in the second quarter, are not being disclosed, said Chris Colangelo, spokesman for EPIC Retirement Plan Services.
Following the completion of the purchase, Alliance Benefit Group workers will become EPIC employees, Mr. Colangelo said.
EPIC Retirement Plan Services, formed by the 2018 acquisition of Retirement Plan Services by EPIC Advisors, has $15 billion in assets under record keeping. Alliance Benefit Group of Illinois has about $3 billion in assets under record keeping.