According to the announcement, Baden, a third party administrator with offices in Fort Wayne and Indianapolis, Indiana, serves 1,500 plan sponsors in 48 states with primarily a Mid-West focus. Baden was established in 1991.
“Baden is a natural fit—both culturally and financially. Offering local administration-only services is a complementary business for Ascensus and will enhance our growth opportunities,” commented Neil Smith, Senior Vice President, Ascensus. “And, like Ascensus, Baden takes great pride in providing the highest levels of service to its clients every day.”
Existing employees of Baden along with the current management structure will remain with the business and operate as a separate unit within Ascensus , according to the firms.