HR Block Buys Block of MyBenefitsSource

December 11, 2001 ( - Tax preparer H&R Block has acquired approximately 44% of the outstanding common shares of MyBenefitSource Inc., a firm that delivers payroll, benefit, enrollment and administrative services.

The Atlanta-based MyBenefitSource says its product integrates

  • payroll
  • time and attendance
  • benefits brokerage
  • benefits enrollment
  • benefits administration
  • benefits invoice reconciliation.

MyBenefitSource users can access their records via the Internet.

MyBenefitSource will work with RSM McGladrey Inc., an H&R Block subsidiary and national consulting, accounting and tax firm.

Acquisition terms were not disclosed  H&R Block has an option to acquire the remaining shares of MyBenefitSource.