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Alerus acquires Retirement Planning Services | Grand Forks Herald

The transaction increases Alerus’ assets, expands footprint
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Prairie Business |
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Alerus Financial Corp. announced that it has completed its acquisition of Retirement Planning Services Inc.Image: Courtesy of Alerus
GRAND FORKS, N.D. • Alerus Financial Corp. has completed its acquisition of Retirement Planning Services Inc., which does business as RPS Plan Administrators and 24HourFlex, Alerus announced on Monday.
“We are thrilled to welcome the clients and employees of RPS and 24HourFlex to Alerus,” said Alerus President and Chief Executive Officer Randy Newman. “Their teams add incredible depth of knowledge to our retirement and benefits division and will further strengthen Alerus’ position in this consolidating industry. ....

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Alerus Acquires Retirement Planning Services, Inc.

Posted on
16797
Alerus Financial Corporation (“Alerus”) (NASDAQ: ALRS), announced today it has completed its previously announced acquisition of Retirement Planning Services, Inc. (“RPS”), which does business as RPS Plan Administrators and 24HourFlex. RPS provides retirement and health benefits administration for more than 1,000 plans, 48,000 plan participants, 300 COBRA clients, and 10,000 COBRA members, and brings more than 30 years of experience to Alerus’ robust retirement and health benefits services division. RPS is based in Littleton, Colorado, which expands Alerus’ geographic footprint to the Rocky Mountain region.
Alerus is a leading independent provider of retirement and benefit administration services. This transaction represents the company’s eleventh acquisition in the retirements and benefits vertical since 2003 and builds Alerus’ health benefits scale in a consolidating industr ....

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