The acquisition represents another distribution channel for e-401(k) provider Emplanet, shorthand for Employee Plans on the Internet (see Emplanet Extends Distribution To/Through Brokers, Planners at ).
Retirement Plan Strategies had pursued an approach that established marketing relationships with distributors and small business affinity channels.
The Retirement Trust Funds Program currently supports some 300 retirement plans, according to the company. As part of the agreement, Retirement Plan Strategies President and Founder John Mulligan will join Emplanet as the general manager of alternative distribution.
Prior to launching Retirement Plan Strategies in 1993, Mulligan was general manager of State Street Bank & Trust Company’s Benefit Plan Services.
The Retirement Trust Funds Program will continue to be available to new and existing clients, but will now operate on the Emplanet technology platform.