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BUSINESS NEWS TRIA ANNOUNCES STRATEGIC EXPANSION INTO NEW PRACTICE AREAS TRIA, an award-winning architecture firm known for boundary- pushing design and a client-centric approach, has announce its expansion into a diverse range of new practice areas. Under the leadership of president and CEO Sherwood Butler, TRIA is now bringing its signature innovation to the multifamily, interior design, urban design/ master planning, commercial mixed- use, adaptive reuse/repositioning, workplace, retail, and hospitality sectors. With a decade of excellence in holistic design solutions for science and technology, TRIA is building on its deep expertise to transform the built environment across industries. The
firm has recently delivered standout projects in restaurants, workspaces, and repositioning efforts, solidifying its place as a dynamic force in architectural design. “This is a pivotal moment in TRIA’s journey,” said Butler. “Our foundation in science and tech, combined with our growing multidisciplinary experience, has naturally evolved into a bold, integrated practice model. We’re excited to push boundaries, foster innovation across sectors, and create spaces that inspire and transform communities. This evolution enables us to apply insights from one market to another, strengthening outcomes for clients and advancing the quality of the built environment across all sectors we serve.”
TRIA’s portfolio comprises an impressive array of projects, including the full repositioning of office spaces in Portsmouth, New Hampshire, and Cambridge, Massachusetts, an office-to-hotel newly expanded conversion in downtown Boston, a luxury 60-unit condominium and club in the Caribbean, new restaurants, and several ground-up multifamily and urban master plan developments in Massachusetts and New Hampshire. The firm’s cross-sector approach sets the stage for a new era – one where insight from each area informs and elevates the rest. This new era features a TRIA that’s as visionary as it is versatile, poised to make a lasting impact through great and thoughtful design.
post-merger company is assuming all assets, liabilities, and equity. In this scenario, the acquired company will usually merge their plan into the post-merger company’s plan, but the post-merger company will go through a thorough benefit analysis to ensure they offer equal or better benefit options. Part of the benefit analysis is collecting plan documents from the acquired company’s plan, to ensure the plan mergers are compliant with the anti-cutback rule. The anti-cutback rule helps ensure that the employees from the acquired firm do not lose any of their protected benefits from their prior company’s plan. So why would an advisor recommend that the post-merger company should merge the two plans together? Simplicity for the business owner of the post-merger company and less stress for the employees of the acquired company. A plan merger is a less drawn-out process compared to a plan termination. In addition, the employees from the acquired company will be subject to some additional stressors from learning about a new company and its operations, so why not make the transfer of their retirement assets easier with a plan merger through a simple blackout period? A proactive advisor will assist the business owners and employees throughout this process for an efficient and effective outcome. The second option we look at for retirement plans going through M&A is plan termination. There are a couple of ways a plan termination can look. The first way is quite uncommon, but this is where both the acquired company and the post- merger company terminate their current retirement plans and create an entirely new retirement plan. As you can probably imagine, there is a lot of work involved with this option, which is why it is uncommon. The second way is for the acquired company to terminate their retirement plan and join the post- merger company’s retirement plan. This is a far more common approach to plan terminations, and assistance from an advisor is highly recommended. So, what does this process look like? The acquired company needs to file a plan amendment for termination of their current
retirement plan. Participants in this plan will be notified of the plan termination and the intention to join the post-merger company’s retirement plan. In addition to the notices being sent out, final employee and employer contributions need to be deposited into the terminating plan. Upon plan termination, participants must be 100 percent vested in all accrued benefits. These steps do not make the plan termination final, as this process can take several months up to a year to complete. A plan termination is not official until all plan assets are paid out to participants and beneficiaries. What does this mean for the business owner of the acquired company? Until the plan is officially terminated, the plan will be subject to annual testing, 5500 filing, and costly annual plan audits if the plan has more than 100 eligible participants. This is where an advisor can help streamline the termination process, save time, and save money. An advisor will reach out to the participants to review their options with their retirement plan funds, which include rolling over to a current employer’s retirement plan, rolling over to an IRA or Roth IRA, or taking a withdrawal of their retirement funds. An advisor acting as a fiduciary will help participants make the most well-informed decision on what to do with their funds. Plan terminations are very common, but having the correct guidance and assistance is crucial during this process. The M&A process has many moving parts and can become hectic. Retirement plans are likely an afterthought, but overlooking the effects of M&A on your company’s retirement plan is not something to take lightly. Working with an experienced advisor, pre- and post-merger, is highly recommended so business owners can focus on what matters most: the merger. In addition, advisors provide your employees with a less stressful, informative, and beneficial process. CJ LaPorta, CFP, CRPS, AIF is a senior corporate retirement plan advisor at Stonebridge Financial Group, LLC. Connect with him on LinkedIn .
THE ZWEIG LETTER AUGUST 11, 2025, ISSUE 1597
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