Alliance Benefit Group Holds Strong In Recordkeeping Business
PEORIA, IL, September 16, 2003 -- At a time when participation rates in 401k plans are declining, Alliance Benefit Group (ABG) continues to thrive in their recordkeeping and benefits consulting business. With 15 offices around the United States, ABG is seeing, from coast-to-coast, a continued dedication to company-sponsored retirement plans.
DAILY VALUATION RECORDKEEPING PLANS
As of the end of June 2003, ABG manages more than $3.4 billion in assets within its daily valuation recordkeeping program for 1,657 plans. Within those plans, there are 255,335 participants with an average of $13,376 in assets per participant and $2,061,171 per plan.
NON-RECORDKEEPING DEFINED CONTRIBUTION PLANS
As of the end of June 2003, ABG manages more than $1.47 billion in assets within its non-recordkeeping program for 1,617 plans. Within those plans, there are 58,225 participants.
DEFINED BENEFIT PLANS
As of the end of June 2003, ABG manages nearly $553 million in defined benefit plan assets for 165 plans across the country containing 40,660 participants.
"We realize that the past few years have been difficult for many companies and participants. As balances have fallen, participants have grown more concerned about their ability to retire," said John Blossom, president of Alliance Benefit Group. "But they are also realizing that their company-sponsored 401k plan is the cornerstone of their retirement foundation. We are working with companies to provide the strongest plan possible for its participants. This ensures that retirement foundations do not crumble."
ABOUT ALLIANCE BENEFIT GROUP
Alliance Benefit Group, headquartered in Peoria, IL, has independently owned and operated offices in more than seventeen cities across the United States and provides retirement plan services for more than 3,200 plans with over $4.8 billion under investment management. Alliance Benefit Group strives to provide employers with the "perfect plan" through knowledge and independence.
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