Aon to Acquire Actuarial Division of J.P. Morgan Retirement

March 19, 2010 ( - Aon Consulting has signed a definitive agreement to acquire J.P. Morgan Compensation and Benefit Strategies, a division of J.P. Morgan Retirement Plan Services, LLC.

According to a press release, J.P. Morgan Compensation and Benefit Strategies provides compensation, retirement, and health care actuarial services, with significant expertise in compliance, financial modeling, and other key actuarial-based solutions related to employee benefits plan designs. Through the deal, Aon said it enhances its benefits consulting intellectual capital nationwide, with offices in 13 markets, such as New York, Boston, Chicago, St. Louis, Dallas, Denver, Los Angeles, and San Francisco.       

“With this acquisition, we strengthen our geographic presence in key markets, adding approximately 150 new colleagues nationwide with deep technical knowledge, complementing our global team in providing employee benefit program solutions and services in areas such as complex union negotiations, benefit reimbursements for government contracts, and benefit issues unique to law firms and other professional services firms,” said Kathryn Hayley, CEO of Aon Consulting, in the announcement.      

The transaction is expected to close by March 31, 2010.