October 25, 2011
--- Benefit Plans
Administrative Services (BPAS) announced plans to acquire CAI Benefits, a provider of
retirement plan administration, actuarial, flex, and benefit consulting
services with offices in New York City and Northern New Jersey. ---
The
acquisition will give BPAS a profile of revenues in excess
of $36 million, administration of over 225,000 defined contribution and
flexible spending participant accounts, more than 650 actuarial
engagements, and custody of $6.0 billion in retirement plan assets, the company reported.
BPAS, through its three principal subsidiaries (BPA, Harbridge Consulting Group
,
and Hand Benefits & Trust Company), provides daily
valuation, actuarial and employee benefit consulting, cafeteria plan, and
institutional trust services, from offices in Utica and Syracuse,
New York;
Pittsburgh
and
Philadelphia,
Pennsylvania;
Houston
, Texas;
and Chicago
, Illinois
.
“
In addition to CAI’s core services, we look forward to
expanding our daily valuation, health care consulting and collective
investment fund (CIF) administration businesses in this key market,
” said
Barry S. Kublin, President of BPAS.
More information about BPAS is at http://www.bpas.com.
PLANADVISER staff