According to the announcement, the entire book of business, approximately 130 cash balance relationships, will transition over to Kravitz during the next two months. 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 announcement.