The entire book of business, approximately 130 cash balance relationships, will transition over to Kravitz during the next two months, according to a release. Kravitz currently administers over 1,000 plans with over $4.5 billion in assets.
“We are very pleased with the strategic acquisition of this book of business, which enhances our core competency as a pioneer and leader nationwide with cash balance plans,” said Dan Kravitz, president, Kravitz, in the release.