Ascensus Wins Synergy Multiple Employer $50 Million 401(k) Plan

May 27, 2010 - PRLog -- The Synergy Companies, Inc. (Synergy), a premier professional employer and human capital management services organization, has selected Ascensus for its 401(k) retirement plan needs.  Synergy transitioned its approximately $50 million in plan assets under administration and 100 adopting employers to Ascensus’ SingleSource Plus™ retirement plan model. SingleSource Plus is a full-service, open architecture 401(k) retirement program with a comprehensive lineup of high quality investment options and resources to streamline plan management.

The Synergy Multiple Employer Retirement Savings Plan uses portfolio investment models that are designed to encompass a variety of risk levels and investment goals to help participants make informed decisions. Other built-in plan advantages are Ascensus’ wide-ranging plan sponsor support tools and employee education program—including marketing materials, meeting support, targeted communications and robust plan sponsor and participant websites.

“As a professional employer organization, Synergy was in search of an easy-to-implement and cost-effective retirement plan solution that would resonate with participants and could be customized to their unique needs,” said Mike Narkoff, Senior Vice President, Sales at Ascensus.  “We are extremely excited to have been selected by Synergy and their financial advisor and look forward to delivering a superior solution that will serve the organization and its plan participants well today and in the years to come.”

About Ascensus
With more than 30 years of industry experience, Ascensus provides high-quality solutions for every segment of the retirement marketplace. Ascensus is a division of Crump Group, Inc., (CGI). CGI is a leading provider of retirement services as well as the largest and most diversified wholesale insurance distributor in the United States. As the nation’s largest independent recordkeeper and administrator for retirement plans in the micro to large market segments and a leading provider of regulatory expertise, plan document services and participant enrollment support, Ascensus services nearly 27,000 defined contribution plans. The company’s core capabilities encompass every component of a sophisticated retirement infrastructure, including administration, recordkeeping, ERISA consulting, compliance and sales support, trust and custody services, multilingual participant education programs, training and documentation. These solutions are offered with the open architecture investment capabilities that can be tailored to support the needs of institutional retirement plan providers, third party administrators, financial advisors and their clients. For more information, visit www.ascensus.com.

About Synergy
Since its inception in 1989, Synergy has had one mission: to be the premier provider of Professional Employer and Human Capital Management services for small and medium-size companies.

Synergy’s goal is to:
• Enhance each company’s Human Resource functions so that they gain advantages that cannot be obtained on their own.

• Offer the full spectrum of HR services, including payroll and employment administration, comprehensive employee benefit plans, worker’s compensation, 401(k) retirement plan, flexible spending account administration, risk management, employee training and development and regulatory compliance.

• Ensure success with each account being personally managed by an on-site Human Resource Field Representative.

• Enhance productivity by lending a dedicated team of Human Resource Specialists in the areas of Employment Compliance, Safety Loss Control, Recruiting Support, Management Training, and Sales and Leadership Development.