Kidder has also created a new entity, Kidder-Lane Actuarial Services, LLC. Doug Lane, former principal of Lane & Associates agreed to be president of the new company and retains an ownership interest. Keith Gredys is chairman and CEO.
According to Gredys, “Skilled actuarial services are required in the design and implementation of defined benefit and cash balance plans, and we have enjoyed a strong working relationship with Lane & Associates for nearly 15 years. Bringing this accomplished actuarial team inside the Kidder organization enhances our ability to serve our growing base of defined benefit and cash balance clients.”
In addition to serving Kidder clients, the new firm will continue to provide actuarial services to outside third-party pension administrators and individual plan sponsors.
“The higher contribution opportunities available in defined benefit and cash balance plans are very attractive to sponsors and participants seeking to optimize their retirement savings,” noted Lane. “We are seeing significant growth in these specialized types of plans, and joining the Kidder organization gives us greater access to the systems and resources required to serve them.”