OneAmerica Acquires Retirement Plan Consulting Firm, Adds trust solution to bolster portfolio, strengthen market leadership
Paul T. Branks, Assistant Vice President, Corporate Communications
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Beth King, APR, Media Relations Manager
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For Immediate Release:
Indianapolis (July 1, 2010) – OneAmerica Financial Partners has acquired Indianapolis-based McCready and Keene, Inc., one of the nation’s largest independent actuarial and consulting firms specializing in the design and administration of retirement plans. The transaction closed today. Terms of the transaction were not disclosed.
McCready and Keene will work together with the retirement services division of OneAmerica company American United Life(AUL). “Adding McCready and Keene to the OneAmerica family of companies is a strategic move that supports our aggressive growth strategy,” said Dayton H. Molendorp, OneAmerica chairman, president and CEO. “Their trust solution and other offerings will complement and expand AUL’s already strong retirement program. In addition, our national presence and distribution structure will help deliver McCready and Keene’s products to new markets around the country.”
Founded in 1933, McCready and Keene manages more than 800 retirement plans representing 500,000 participants and $19 billion of assets under administration. “The relationship between OneAmerica and McCready and Keene is an excellent fit for both companies,” said Dan Shelley, chairman of the board for McCready and Keene. “Our experience with defined benefit plans will give AUL Retirement Services immediate credibility as a total resource organization poised to meet the needs of plan sponsors and participants.” Adds long- time McCready and Keene President Joe Ferrell, “We fit together like hand in glove.”
AUL Retirement Services is an industry leader in the 401(k) and 403(b) marketplace, focused on plans with minimum assets of $500,000 and above. Its growth strategy, however, targets new opportunities in larger markets. “With the additional platforms and capabilities provided by McCready and Keene,” added Bill Yoerger, senior vice president of AUL retirement services, “we’ll be positioned to extend our reach further into the medium-to-large markets that often look for the combination of products we can now offer.”
About AUL Retirement Services
American United Life Insurance Company® (AUL) is the founding member of OneAmerica® and offers a wide range of products and services for retirement plans of individuals and employers. As a leader in the retirement services industry, AUL provides local service through a national network of experienced professionals focusing on the 401(k), 403(b) and 457 markets.
About McCready and Keene
Based in Indianapolis, Indiana, McCready and Keene, Inc. is one of the nation’s largest independent actuarial and employee benefits consulting firms. They specialize in designing, installing and administering customized retirement plans, and work strictly on a fee for service basis with a completely open architectural environment. As an independent, fee-for-service firm, McCready and Keene serves as a true advocate for the plan sponsor and plan participants.