American Pension Services

What American Pension Services does

American Pension Services, LLC is an independent, privately held third-party retirement plan administration and consulting firm headquartered in Clearwater, Florida. Founded in 2000, the firm specializes in 401(k) programs tailored to small and medium-sized employers across the United States, and has positioned itself as a non-broker, non-investment-advisor administrator that does not layer commission or advisory fees onto its pricing. Its core product set spans standalone 401(k) plans (including Safe-Harbor, cross-tested, and age-weighted designs), 403(b) programs, Multiple Employer Plans under IRC 413(c), and Pooled Employer Plans, supported by a "Pooled Plan Provider affiliated companies" relationship for PEP delivery.

The firm derives revenue primarily through managed services and professional services engagements: ongoing plan administration and compliance testing, ERISA Section 3(16) fiduciary plan administration (offered to multiple employer plan clients since 2010), and retirement plan consulting. Pricing is not publicly disclosed. Distribution is sales-led, combining direct employer engagement via a website contact channel with a nationwide network of independent financial advisors who deliver local support to employer clients. Marketing presence is modest — a professional website, a downloadable 2026 deferral limits resource, and a single Clearwater office staffed by a small team (11-50 employees) of plan administrators averaging 20+ years of specialized industry experience.

Governance and ownership are concentrated: the firm operates as a standalone Florida LLC with no parent, no subsidiaries, no disclosed funding history, and no public ticker. Leadership includes Pete Cardillo as President and CEO. The firm's stated "Best Practices Strategy" commits it to avoiding the consultant role when using proprietary recordkeeping or steering business to a single investment provider — a positioning choice that defines its go-to-market against broker-affiliated competitors in the multiple-employer plan market.

Name

American Pension Services

Legal name

American Pension Services, LLC

Website

https://americanpension.net

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

11–50 employees

Short description

American Pension Services is an independent, privately held third-party retirement plan administrator headquartered in Clearwater, Florida, providing 401(k), 403(b), Multiple Employer Plan, and Pooled Employer Plan administration, compliance, and ERISA 3(16) fiduciary services to small and medium-sized employers and independent financial advisors across the United States.

Ownership category

akta.pro rank

Product category

Retirement Plan Administration

NAICS

Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292), Insurance and Employee Benefit Funds (5251)

akta.pro primary industry

Employer Retirement Plan Advisory (401(k)/Pension) (FSAEABAE)

akta.pro secondary industries

Benefits Administration (BPACAPAC), Employee Benefit & Retirement Plan Trust Services (FSAAANAC), Pensions & Retirement Benefits Administration (BPAIAKAA)

Keywords

• Retirement plan administration
• 401(k) plan services
• Pension plan consulting
• ERISA compliance services
• Third-party plan administration

Headquarters

HQ city

Clearwater

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 plan administration services for 401(k) programs, including multiple-employer 413(c) plans. The company is not a broker or investment advisor and does not add commission or investment advisory components to pricing.
2. ERISA 3(16) Plan Administrator Services: Fiduciary plan administrator services provided since 2010 for multiple employer plan clients. Acts as named fiduciary for plan administration responsibilities.
3. Compliance and Consulting Services: Retirement plan consulting and compliance services including plan design, testing, and ongoing regulatory compliance under IRS and Department of Labor regulations.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels2 records

Core offering

American Pension Services is an independent third-party retirement plan administration and consulting firm that administers 401(k) programs, Multiple Employer Plans, Pooled Employer Plans, and 403(b) programs for small and medium-sized employers nationwide. The firm provides plan administration, compliance testing under IRS and Department of Labor regulations, ERISA 3(16) fiduciary administration, and retirement plan consulting, working alongside independent advisors to deliver local support to employer clients.

Product overview

American Pension Services offers a unified suite of retirement plan administration and consulting services centered around 401(k) programs for small and medium-sized employers. The core portfolio includes Multiple Employer Plans (413(c)), Pooled Employer Plans, and 403(b) programs, supported by Plan Administration & Compliance Services and ERISA 3(16) Plan Administrator Services. The company positions itself as a third-party administrator (not a broker or investment advisor), providing services alongside independent advisors to deliver local employer support without commission or proprietary record-keeping conflicts.

Differentiator

Problem solved

Functional benefit

Brands

• APS Plan Administrators: The professional administration team within American Pension Services, known for having an average of 20+ years of experience in retirement plan administration.

Products and services

• 401(k) Programs Retirement savings programs tailored to small and medium-sized employers across the United States, featuring Safe-Harbor 401(k) options, cross-tested or age-weighted designs, unique carve-out structures, tiered matching formulas, and flexible self-directed investment options.
• Multiple Employer Plans (413(c)) Customized multiple employer plan solutions allowing small and medium employers to participate in a shared retirement plan structure, reducing individual administrative burden and costs.
• Pooled Employer Plans Industry-leading pooled employer retirement plan services provided in conjunction with Pooled Plan Provider affiliated companies, delivering cost-effective administration and compliance for employers participating in the plan.
• 403(b) Programs Tax-advantaged retirement savings programs for employees of public schools and certain tax-exempt organizations, administered by the firm as part of its retirement plan administration portfolio.
• Plan Administration and Compliance Services Comprehensive administrative systems and professional oversight for ongoing retirement plan operations, including all required IRS and Department of Labor testing and compliance functions, with specialization in the takeover of plans needing remedial administrative and communication assistance.
• ERISA 3(16) Plan Administrator Services Fiduciary plan administrator services delegated under ERISA Section 3(16), providing clients with named fiduciary responsibilities for plan administration; the firm has provided these services to multiple employer plan clients since 2010.
• Retirement Plan Consulting Strategic consulting services to help employers design and optimize retirement plans customized to the unique needs of their business and workforce.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Independent Advisors (unspecified)coreChannel Partner/ Reseller/ DistributorThe company works with independent advisors and their clients across the country to bring local support to employers and their teams. Unlike many competitors who are brokers or investment advisors, this company provides independent third-party administration without adding commission or advisory fees.

Scale indicators4 records

Recent moves4 records

Direct peers

• ADP Retirement Services: Major 401(k) recordkeeper and administrator focused on small and mid-sized employers. Direct competitor to APS in the SMB 401(k) administration segment with bundled HR/payroll positioning.
• Ascensus: Largest independent retirement plan TPA in the U.S., serving 401(k), 403(b), MEP, and PEP markets. Most direct competitor to APS given similar independent positioning and multi-employer plan focus.
• Paychex Retirement Services: Paychex's 401(k) administration business serving small businesses — overlapping significantly with APS's SMB 401(k) and pooled plan focus, with the added leverage of Paychex's payroll customer base.
• Vanguard (Small Business 401(k)): Vanguard's small-business 401(k) administration service competes directly with APS in the SMB 401(k) market, leveraging low-cost fund offerings and brand trust.

Broad incumbents

• Empower Retirement: One of the largest U.S. retirement plan recordkeepers/TPAs, serving plans of all sizes. Competes with APS in the mid-market 401(k) space with a much broader product portfolio.
• Fidelity Workplace Investing: Fidelity's retirement plan services arm — the largest 401(k) recordkeeper with full-service administration. Competes with APS across SMB and mid-market segments with scale-driven pricing.
• Principal Financial Group: Large retirement plan provider offering administration, recordkeeping, and investment products across employer segments. Competes with APS in mid-market and has a strong pooled plan offering.
• Schwab Retirement Plan Services: Charles Schwab's retirement plan administration business serves plan sponsors across the SMB-to-mid-market range — overlapping with APS's core 401(k) administration market.

Emerging players

• Vestwell: Digital retirement plan platform serving small and mid-sized employers, including pooled plan solutions. Emerging competitor to traditional TPAs with modern technology and aggressive growth in the SMB market.
• Guideline: Tech-forward 401(k) platform targeting small businesses with streamlined, lower-fee administration. Represents the fintech-native competitive threat to traditional TPAs like APS in the SMB segment.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 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 American Pension Services