BenefitStreet Finalizes Actuarial Firm Sale

August 19, 2008 ( - The San Ramon, California-based BenefitStreet, has completed the sale of its Westbury, New York-based subsidiary Schloss & Co., an actuarial and benefits consulting firm.

A BenefitStreet news release said the deal was made with the firm s founder and original owner, Eugene Schloss; terms finalized on August 15 are not being released, the company said.

According to BenefitStreet, which recently sold two other TPA subsidiaries-WESPAC and Alliance Benefit Group (ABG) Mid-Atlantic-will now step up efforts to complete the sale of Qualified Benefits, Inc. (QBI), a Woodland Hills, California-based TPA that the company acquired in 2005 (See  Alliance Benefit Group Division Latest BenefitStreet Selloff ).

President and CEO, Jerry Bramlett, stated that he is in late-stage discussions with an interested party and expects to complete a transaction by the end of August

We re working very hard on streamlining the organization, and the Schloss & Co. sale enables us to narrow our strategic focus and concentrate more fully on DC recordkeeping initiatives,” said Bramlett.