Two Connecticut pension administrators — ACG Associates Inc. and Charter Oak Pension Group LLC — have merged, effective Wednesday.
ACG Associates is the surviving firm, with headquarters in New Hartford, and satellite offices in Glastonbury, and Litchfield. Financial terms weren’t disclosed.
“This is a great opportunity to leverage the resources of both firms” said ACG President Richard C. Stanchfield.
Thomas Cole ran Charter Oak.
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Founded in 1981, ACG Associates provides defined contribution recordkeeping and payroll services to more than 400 clients. Charter Oak has been providing actuarial services for defined benefit plans since 2000.
Together, the merged firm has more than 600 clients and some $1.5 billion in assets under administration.
