Red Bank, NJ, May 10, 2020: 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.
