Alpine Investors said that it has divested Florida-based MidAmerica Administrative & Retirement Solutions to U.S. Retirement & Benefits Partners (USRBP) for an undisclosed price.

Established in 1995, MidAmerica Administrative & Retirement Solutions is engaged in serving public sector employers with retirement and health and welfare plans. It was acquired in 2015 by Alpine Investors.

Currently, the company operates as a third-party administrator offering retirement as well as health and welfare solutions for the public sector.

MidAmerica Administrative & Retirement Solutions is focused exclusively on providing 3121 (FICA Alternative), HRA, Special Pay, and OPEB compliance and administration services. Its clients include colleges, public school systems, governmental entities, and universities.

Jim Tormey — CEO of MidAmerica Administrative & Retirement Solutions said: “Over the last few years, the team at MidAmerica has prioritized continuous improvement which has resulted in best-in-class service quality, renewed trust from our customers, and an uptick in organic growth.

“Our partnership with USRBP will allow MidAmerica to continue on its mission of allowing public sector employers to reduce costs, attract and retain great talent, and deliver financial peace of mind for their employees.”

U.S. Retirement & Benefits Partners, which is based in New Jersey, is a national financial services company that specializes in offering employee benefit and employer-sponsored retirement plans.

Megan Schneider — President of U.S. Retirement & Benefits Partners said: “The leadership team of MidAmerica strengthens our entire organization and brings with them a wealth of insight, experience and success, further solidifying our position as a market leader, particularly in the K-12 marketplace.”

  Alpine Investors, Florida, Jim Tormey, Megan Schneider, MidAmerica Administrative & Retirement Solutions, USA