Red Bank, NJ, May 10, 2020 --(PR.com
)-- David K. Young Consulting, LLC (DKYC) and Northeast Professional Planning Group, Inc. (NPPG) have expanded its partnership to gain synergies and a much broader footprint for both firms. The partnership isn’t an acquisition or merger of the two firms as they will remain autonomous from each other.
In October of 2018 NPPG and DKYC entered into an initial partnership where DKYC sent its Defined Benefit book of business to NPPG and NPPG began the process of sending all NPPG Health & Welfare (H&W) spending accounts (FSA, HSA and HRA) and COBRA services to DKYC. This partnership has proven to be a great success over the past two years and both firms have decided to expand the relationship even further.
NPPG, one of the nation’s largest privately held third-party administration (TPA) firms, will now be administering all Defined Contribution retirement plans for DKYC clients. Concurrently, DKYC will be expanding its responsibilities to now include H&W Plan Document and H&W Form 5500 filing service to all NPPG health insurance clients. This partnership makes sense due to numerous reasons that will better serve both firms respective clients, plan sponsors, insurance agents, brokers and Financial Advisors.
The initial partnership has gone well for both firms and the next step has been to further expand the partnership involving the current transaction. The initial transaction in 2018 created the partnership and made future transactions between the two firms possible. Both Michael Salerno, CEO of NPPG and David K. Young, CEO of DKYC are excited about the opportunities this partnership brings to the market. DKYC is specialized in spending account administration and leverages its vast experience and cutting-edge technology. A recent example of the systems is the ability for participants to auto adjudicate spending account claims which deletes the need for plan participants to submit paper claims to verify eligibility for payment. DKYC also has advance debit card administration capabilities allowing complex HRA/MERP plan designs as well as an online enrollment portal and benefit administration being demanded in the marketplace.
As NPPG continues to execute on its growth and acquisition strategy its reach has gone far beyond the northeast of the United States. Given such, NPPG is pleased to announce that effective July 2020 Northeast Professional Planning Group will be known as National Professional Planning Group.
NPPG provides employee benefits, retirement planning, actuarial consulting and comprehensive ERISA administrative fiduciary services to over 4,000 clients throughout the country. It is their leadership’s commitment to NPPG’s corporate Mission and founding Vision that is the foundation of their success. NPPG’s Vision is clear and has remained constant since NPPG was founded in August of 1997 – To be the preferred employee benefits solution partner for businesses by setting a new standard of excellence at all times – as their Mission – To exceed the expectations of their clients as well as those of their employees – drives their customer service centric culture.
The current office of DKYC will continue to service and interact with the DKYC retirement plan book of business and clientele. James Kalmer, Holly Kalmer and Melonie Metz will remain on the team servicing the DKYC clients and plan sponsors. David Young will also remain active and involved with NPPG in servicing the plan sponsors regarding the DKYC retirement plan book of business. The NPPG staff will also continue to be actively involved with the health & welfare plan document business that DKYC will facilitate.
About National Professional Planning Group, Inc. (NPPG) – (formerly Northeast Professional Planning Group, Inc.)
NPPG is an independent Employee Benefits, Retirement Planning, Actuarial Consulting and Fiduciary Services Group. NPPG services more 4,000 plans with over $4 billion in assets for clients nationwide. A full suite of compliance services includes Affordable Care Act (ACA) compliance, ERISA 3(16) administrative fiduciary services, retirement plan third-party administration for single and multiple employer plans (MEPs), as well as overall regulatory consulting and plan correction. NPPG customizes employee group benefit insurance and retirement plan solutions to meet business and financial goals of their clients. NPPG’s clientele is made up of members of the New York stock exchange and NASDAQ, non-profit organizations, Fortune 500 companies, government agencies, as well as small entrepreneurial businesses, Associations and Professional Employer Organizations (PEO’s). NPPG is headquartered in New Jersey with offices in New York, Florida, Michigan and Texas. For further information, contact NPPG’s corporate office in Red Bank, NJ at (732) 758-1577 or visit www.nppg.com.
About David K. Young Consulting, LLC
DKYC has been servicing clients throughout the United States for over 26 years. DKYC is a Texas and Michigan based, nationally recognized retirement and benefits consulting firm providing third party administration and consulting services for retirement/pension plans (including 403(b) and 457), Section 125/Cafeteria Plan, COBRA/HIPAA, common remittance administration (consolidated billing) and HSA/HRA programs. In addition, the firm also works in general human resources consulting covering areas such as COBRA, HIPAA policy and practices, employee communications and compliance and human resources handbook design.
DKYC has grown to be the largest TPA in South Texas, servicing clients as small as three employees to over seven thousand employees. DKYC is positioned to become one of the largest and most experienced TPAs in Texas, Michigan and beyond. The credentials of DKYC include CEBS, MPA, QKA, QPA, and SCLA. DKYC has expanded and established teamed efforts and alliances with other marketing, accounting and legal organizations throughout the nation. DKYC is also the only TPA firm in Texas with A.M. Best’s “Recommended Expert Service Providers” designation.
David K. Young Consulting has enjoyed steady growth in serving clients of any size throughout the United States. For further information, contact David K. Young Consulting, LLC at (210) 558-0999 or visit www.dkyoung.com.