Benefit Trust Company

Founded in 1982 and formerly a subsidiary of Union Bank & Trust Company (UBT), Benefit Trust Company established itself as a leading provider of trustee, custodial, and third-party administration services for retirement plans, including 401(k)s and IRAs. The company specialized in open-architecture plan design, offering a wide array of investment options and customized solutions for employers, financial advisors, and individuals. In 2022, Union Bank & Trust sold Benefit Trust Company to Millennium Trust Company, a prominent provider of retirement and custody solutions. Following the acquisition, Benefit Trust's operations and clients were integrated into the Millennium Trust platform.