NORWICH, N.Y. — EPIC Advisors, Inc., a subsidiary of NBT Bancorp Inc., has acquired Retirement Plan Services, LLC (RPS), a retirement-plan services company located near St. Louis, Missouri.
EPIC is a Rochester–based 401(k) record-keeping firm, while RPS provides recordkeeping, administration, and plan-design services for employers nationwide, NBT Bancorp said in a news release. NBT didn’t disclose any financial terms of the deal.
“We’re pleased to have this opportunity to continue the growth of our well-established retirement-services business with the acquisition of RPS by EPIC,” John Watt, Jr., president and CEO of NBT Bancorp, said. “We now have retirement-plan clients in all 50 states and we serve over 220,000 plan participants through our retirement-plan services entities. EPIC and RPS together will enable us to build on our mission of helping America retire.”
(Sponsored)
Are You Ready for the Pay Transparency Law?
Following the lead of New York City and other state and local jurisdictions, New York State’s pay transparency law will be effective September 17, 2023. The law ushers in a
It’s Time for Your Business to Think About Year-End Tax Planning
As the year-end approaches, it’s time to take proactive steps to help lower your business’s taxes for 2024 and beyond. Deferring income and accelerating deductions to minimize taxes can be
Founded in 1993, EPIC provides customized retirement-plan recordkeeping, marketing, and service options for banks, trust companies, third-party administrators, investment advisors, and other financial intermediaries who serve the retirement-plan market.
NBT acquired EPIC in 2005 and has grown its retirement-plan services business “organically, and in recent years, through acquisitions.”
The NBT acquisitions included Downeast Pension Services, Inc. in New Gloucester, Maine in 2017; Actuarial Designs & Solutions, Inc. of Scarborough, Maine in 2016; and Third Party Administrators, Inc. of Bedford, New Hampshire in 2015.
Norwich–based NBT Bancorp (NASDAQ: NBTB) had total assets of $9.1 billion at Dec. 31, 2017. The company primarily operates through NBT Bank, N.A., EPIC Advisors, Inc., and NBT Insurance Agency, LLC.
Contact Reinhardt at ereinhardt@cnybj.com
