SOURCE: National Investment Managers Inc.

September 25, 2009 13:42 ET

Employees of National Investment Managers Inc. Achieve New Designations

18 Associates Pass ERPA Examinations

DUBLIN, OH--(Marketwire - September 25, 2009) - National Investment Managers (OTCBB: NIVM), a nationally-based and regionally-operated retirement plan administration and investment management company, with over 10,000 qualified retirement plans and approximately $10 billion of assets under administration, announced today that eighteen members of the company passed the Enrolled Retirement Plan Agent ("ERPA") exam. The designation allows the recipient to practice and represent clients before the Internal Revenue Service on certain retirement plan issues.

The total number of ERPAs on staff with NIVM's Third Party Administrators ("TPAs") is now 26, which furthers the company's objective of creating a comprehensive network of firms with best-in-class actuarial, consulting, and retirement plan expertise. The ERPA results enhance NIVM's already substantial network of experts that includes 12 Enrolled Actuaries, 10 Attorneys, and numerous associates who carry one or more of the following designations: Certified Public Accountant (CPA), Certified Pension Consultant (CPC), Qualified Pension Administrator (QPA), and Qualified 401(k) Administrator (QKA).

John Davis, President and Chief Operating Officer of NIVM, said, "The retirement plan industry is highly regulated with ERISA, the Internal Revenue Code, and DOL and IRS regulations. We are striving to build an unmatched network of experts within our TPA practice, offering the best in retirement plan design, consulting and administration. Plan sponsors can have the utmost confidence in our TPAs, as our firms possess the knowledge and talent necessary to help them navigate through all of the complicated and rapidly changing regulatory requirements. Congratulations to all those that passed the ERPA exam and thank you for helping NIVM further its goals."

About National Investment Managers Inc.

National Investment Managers Inc. is a holding company and a consolidator of pension plan administration, investment management and insurance businesses. Its strategy includes a custom-tailored acquisition formula for each acquired business, which allows local and regional entities to retain their autonomy while benefiting from the reach that a national presence offers. In addition, the Company's approach offers entrepreneurs in these businesses an exit strategy suited to their specific needs. National Investment Managers targets businesses with stable cash flows and high operating margins to ensure successful integration of operations once a sale is concluded. Acquired companies continue to operate under their own brands, usually with minimal staff turnover to ensure that relationships of many years' standing are not disrupted. At the same time, these formerly small businesses can cross-sell related financial services under the National Investment Managers umbrella and enjoy administrative and other support from around the country.

The member firms of National Investment Managers provide pension administration services, retirement planning, defined benefit services, asset preservation, general insurance and asset management services. Wholly-owned subsidiaries of National Investment Managers are based in Anchorage, AK; Laguna Hills, CA; Marina Del Rey, CA; Greenwood Village, CO; Southington, CT; Lake Mary, FL; Pikesville, MD; North Attleboro, MA; Haddonfield, NJ; New York City, NY; Yorktown Heights, NY; Beaverton, OR; Harrisburg, PA; Horsham, PA; Wayne, PA; Warwick, RI; Houston, TX; and Seattle, WA. NIVM's corporate headquarters are located in Dublin, OH.

Note: This press release contains statements that are considered forward-looking under the Private Securities Litigation Reform Act of 1995, including statements about the Company's future prospects. They are based on the Company's current expectations and are subject to a number of uncertainties and risks, and actual results may differ materially. The uncertainties and risks include whether the Company is able to raise capital, identify and complete acquisitions, integrate the acquired businesses, improve upon the operations of the acquired business units and generate cash and profits. Further information about these and other relevant risks and uncertainties may be found in the Company's filings with the Securities and Exchange Commission.

Contact Information

  • Contact:
    Steven J. Ross
    (614) 923-8822