PASI

What PASI does

PASI, LLC (Pension Administrative Services Inc.) is a Farmington, Connecticut-based third-party pension administration (TPA) and consulting firm serving small and mid-sized businesses across New England (Connecticut, Massachusetts, New York, New Jersey, and Rhode Island), with parent-company reach extending into the Southeast US. Founded around 1994, the firm designs, implements, administers, and provides ongoing compliance testing for qualified retirement plans, including 401(k), 403(b), traditional defined benefit, cash balance, and non-qualified executive plans, supplemented by SECURE 2.0 Act compliance services, e-delivery of participant notices, secure file-sharing via Sharefile, and distribution/loan processing. The wholly-owned subsidiary PASI Investments, LLC operates as a Registered Investment Adviser, broadening the offering beyond pure administration.

The firm runs on a professional services revenue model, billing clients on a quote basis for plan design, consulting, annual compliance and nondiscrimination testing, Form 5500 filings, fiduciary reviews, and ongoing participant administration. Go-to-market is direct sales-led, with client acquisition through professional referrals, NIPA and ASPPA industry association memberships, community sponsorships, and personal networks. The firm employs 11-50 credentialed professionals averaging over 15 years of industry experience, holding designations such as QKA, QPA, ERPA, CPC, and QPFC, and includes five named principals (David Wetsman, Ron Fishman, Dave Beck, Quynhchau Le, Bryce Raymond). PASI's Client Service ratings topped a Gregory Group survey of TPAs commissioned by Transamerica.

In October 2023, PASI was acquired by U.S. Retirement & Benefits Partners (USRBP), one of the largest independent employee benefits and retirement planning firms in the country, with all five founding partners retained long-term. The firm is currently rebranding to Daybright Financial as part of a unified rebrand across USRBP and all its affiliates, with PASI Investments, LLC transitioning to Daybright Advisory Services, Inc. effective July 1, 2025. Operations, client contacts, and account access remain unchanged through the rebrand.

Name

PASI

Legal name

PASI, LLC

Website

https://pasiusa.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

11–50 employees

Short description

PASI is a Farmington, Connecticut-based third-party pension administration and consulting firm serving small and mid-sized businesses across New England with 401(k), 403(b), defined benefit, cash balance, and non-qualified retirement plan design, compliance, and administration services.

Ownership category

akta.pro rank

Product category

Pension Consulting and Third-Party Retirement Plan Administration

NAICS

Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)

akta.pro primary industry

Employee Benefit & Retirement Plan Trust Services (FSAAANAC)

akta.pro secondary industries

Corporate Retirement Plan Advisory RIAs (ERISA 401(k)/403(b)) (FSAAACAF), Fiduciary Agency & Trustee-for-Hire Services (FSAAANAL), Compliance, Reporting & Regulatory Administration (ERISA/ACA/No Surprises) (HLAEALAJ)

Keywords

• Pension consulting
• Third-party administration
• Retirement plan services
• 401k plan administration
• Defined benefit plans

Headquarters

HQ city

Farmington

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Retirement Plan Administration Services: Third-party administration (TPA) services for qualified retirement plans including 401(k), 403(b), Defined Benefit, Cash Balance, and Non-Qualified Plans. Revenue generated through professional service fees for plan design, compliance, administration, and consulting.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

PASI, LLC is a third-party administrator and pension consulting firm that designs, implements, and administers qualified retirement plans for small and mid-sized employers. Services include plan design, compliance testing, Form 5500 filings, participant communications, fiduciary reviews, and ongoing administration for 401(k), 403(b), Defined Benefit, Cash Balance, and Non-Qualified Plans. The firm operates as an independent, unaffiliated TPA serving clients across Connecticut, Massachusetts, New York, New Jersey, and Rhode Island.

Product overview

PASI provides a unified retirement plan administration platform combining plan design, consulting, compliance, and ongoing administration services. The core offerings include 401(k) Plan Services, 403(b) Plan Services, Defined Benefit/Cash Balance Plans, Non Qualified Plans, and Plan Design. Supporting modules include SECURE 2.0 Compliance Services for regulatory updates, Secure File Sharing for document exchange, E-Delivery of Notices for participant communications, and Distributions processing. PASI serves small and mid-sized companies throughout Connecticut, Massachusetts, New York, New Jersey, and Rhode Island.

Differentiator

Problem solved

Functional benefit

Products and services

• 401(k) Plan Services Consulting, compliance, and assurance services for 401(k) plans including plan documentation, service provider assessments, Form 5500 government reporting, annual compliance/nondiscrimination testing, and fiduciary reviews for employer plan sponsors.
• 403(b) Plan Services Consulting, compliance, and assurance services for 403(b) plans, helping organizations (typically public schools, nonprofits, hospitals) meet regulatory requirements and maintain compliance.
• Defined Benefit/Cash Balance Plans Traditional defined benefit pension plans and hybrid cash balance plans that provide employees with retirement benefits based on salary and years of service, or hypothetical account balances with interest credits.
• Non Qualified Plans Supplemental retirement plans for key employees offering tax-deferred earnings, no contribution limits, and flexibility in benefit structure design for executives and highly compensated employees.
• Plan Design Comprehensive retirement plan design services covering 401(k), profit sharing, money purchase, age-weighted plans, cross-tested plans, cafeteria plans, Individual(k) plans, and more. Includes implementation, administration, accounting, and monitoring functions.
• SECURE 2.0 Compliance Services Analysis and implementation support for SECURE 2.0 Act provisions including mandatory automatic enrollment, catch-up contribution rules, RMD changes, student loan matching, and other retirement plan regulatory updates.

Quantifiable outcome

• Client Service ratings topped the score for all TPAs participating in a survey of client satisfaction performed by the Gregory Group (commissioned by Transamerica)

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• ADP Retirement Services: Offers 401(k) plan administration, recordkeeping and compliance for small and mid-sized employers, often bundled with ADP's payroll platform. Comparable to PASI in serving SMB plan sponsors with administration and consulting across multiple plan types.
• Paychex Retirement: Provides small-business retirement plan administration (401(k) and pooled employer plans) integrated with its broader payroll and HR outsourcing suite. Closely comparable to PASI in targeting SMB plan sponsors with bundled administration and compliance services.
• Ascensus: Largest independent retirement TPA in the U.S., offering plan administration, compliance and consulting across 401(k), 403(b), defined benefit and government plans. Directly comparable to PASI's core TPA services for retirement plans, with broader scale and a national footprint.
• Ubiquity Retirement + Savings: Independent TPA focused on small and mid-sized plan sponsors, providing plan design, administration and compliance for 401(k), 403(b) and defined benefit plans. Similar business model and target segment to PASI's retirement plan consulting practice.

Broad incumbents

• Principal Financial Group: Diversified retirement services provider offering recordkeeping, plan administration and consulting for defined contribution and defined benefit plans. Targets similar SMB and mid-market plan sponsors as PASI, with a much broader product portfolio.
• Vanguard: Large recordkeeper with institutional retirement plan services and integrated plan administration offerings for small to mid-sized plan sponsors. Comparable to PASI through its plan administration, compliance and participant services stack.
• Voya Financial: Retirement-focused financial services firm providing recordkeeping, plan administration and advisory services for corporate, government and education plans. Comparable to PASI in plan administration and compliance work, but with national reach and broader capabilities.
• Empower Retirement: One of the largest U.S. retirement recordkeepers and integrated plan administrators serving plans of all sizes, including small business. Competes with PASI via bundled administration, compliance and consulting offerings, but operates at far greater scale with proprietary technology.
• Transamerica: National retirement and insurance provider offering recordkeeping, plan administration and TPA services for employer-sponsored plans. Overlaps with PASI in plan administration and compliance support, but with significantly broader scale and product depth.
• Fidelity Investments: Major recordkeeper and retirement services provider with growing integrated TPA and advisory capabilities for workplace plans. Provides administration support to plan sponsors that overlaps with PASI's offerings, but at enterprise scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/pasiusa1
• Facebookfacebook.com/profile.php

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PASI