updated: 7/1/2013 6:12:39 AM

Benefits Company Plans Expansion

InsideINdianaBusiness.com Report

Indianapolis-based Nyhart is planning to expand its headquarters and add 25 jobs by 2017. The company, which also has offices in Chicago, Kansas City and San Diego, is looking to invest $840,000 for additional staff, equipment and office space.

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July 1, 2013

News Release

INDIANAPOLIS, Ind. - Nyhart, an actuarial and healthcare benefits firm, announced plans today to expand its headquarters here, creating up to 25 new jobs by 2017.

The homegrown-Hoosier company will invest $840,000 to lease and equip an additional 8,000 square feet of office space in Indianapolis. The facility, which will be operational by summer 2014, will give the company additional office space to house its employee benefit consulting services.

"Indiana's network of top-ranked universities prepares Hoosiers to fill in-demand jobs like those in the benefit consulting and actuary industries," said Eric Doden, president of the Indiana Economic Development Corporation. "Combine this talented workforce with our low-tax, pro-growth policies, and, once again, Indiana demonstrates why it is a state that works for business."

Nyhart, which currently has 68 full-time employees in Indianapolis and more than 95 employees across five other states, has already begun hiring additional actuaries, administrators and benefit consultants. Interested applicants can learn more by visiting www.nyhart.com/careers.

"Indiana's colleges provide an excellent supply of skilled talent, with curriculums that directly benefit our company's operations," said Thomas Totten, chief executive officer of Nyhart. "When visiting universities across the state, I'm consistently impressed with the students I meet and try to bring the top minds back to our organization."

Founded in 1943, Nyhart provides consulting services to more than 1,000 public and private companies in 48 states on issues such as pensions, retirement benefits, compensation strategies and other employee benefits. With offices across six states, Nyhart is an employee-owned company that has been designated annually since 2009 as one of the top places to work in Indianapolis by The Indianapolis Star.

The Indiana Economic Development Corporation offered Nyhart up to $325,000 in conditional tax credits and up to $35,000 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Indianapolis supports the project at the request of Develop Indy, a business unit of the Indy Chamber.

"Nyhart could have chosen Atlanta or San Diego for their expansion, but they chose Indianapolis, which speaks volumes for our strong business climate," said Indianapolis Mayor Greg Ballard. "We're always happy to see great companies expanding here, and providing job opportunities for our skilled workforce."

Six universities in Indiana offer majors in actuarial science, including Ball State University, Butler University, Indiana University Northwest, Indiana University South Bend, Purdue University and Valparaiso University. In addition, universities across Indiana offer strong mathematics programs and curriculums, preparing students for actuary examinations that allow employers around the state to find an ample supply of high-skilled workers.

About Nyhart

Nyhart, one of the nation's largest independent actuarial and employee benefits consulting firms, has been operating since 1943. Nyhart is composed of actuaries, consultants, attorneys, accountants, and administrators, focusing on pension and retirement fund analysis, retirement benefits consulting, employee compensation, healthcare actuarial matters and administration of employee benefits for churches, non-profits as well as private and public companies around the United States. Nyhart's clients have more than $15 billion in retirement plan assets.

An employee-owned company, Nyhart is regularly recognized as a best place to work. For more information about Nyhart, visit www.nyhart.com.

About IEDC

Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president of the IEDC.

Source: Indiana Economic Development Corp.

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