CBIZ Acquires Pension Resource Group, Inc.

Cleveland-based CBIZ (FY14 net revenue of $600 million) has acquired Pension Resource Group, based in Woodstock, Ga.

Co-founded by Michael Croyle in 1995, PRG provides pension administration solutions including defined benefit administration, data warehousing, benefit communication, compensation statement and human capital services to clients ranging in size from 500 to over 60,000 participants. PRG has 35 employees and recorded approximately $4.8 million in revenue over the past 12 months.

Steve Gerard, chairman and CEO of CBIZ says in a statement, “By combining PRG’s experienced pension consultants and actuaries, along with their propriety IPASMaster™ pension software platform, with our growing and nationally recognized CBIZ Retirement Plan Services business we can provide a total retirement solution that will better serve our clients.”

Croyle says, “We are confident that joining forces with the current CBIZ retirement team will strengthen our ability to serve our clients. We feel the CBIZ culture and additional service offerings are a perfect fit for our associates and clients alike.”