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Deals & People October 25, 2011
BPAS Expands Benefits Administration Business
Benefit Plans
Administrative Services (BPAS) announced plans to acquire CAI Benefits, a provider of
retirement plan administration, actuarial, flex, and benefit consulting
services with offices in New York City and Northern New Jersey.
Reported by PLANADVISER staff
The acquisition will give BPAS a profile of revenues in excess of $36 million, administration of over 225,000 defined contribution and flexible spending participant accounts, more than 650 actuarial engagements, and custody of $6.0 billion in retirement plan assets, the company reported.
BPAS, through its three principal subsidiaries (BPA, Harbridge Consulting Group, and Hand Benefits & Trust Company), provides daily valuation, actuarial and employee benefit consulting, cafeteria plan, and institutional trust services, from offices in Utica and Syracuse, New York; Pittsburgh and Philadelphia, Pennsylvania; Houston, Texas; and Chicago, Illinois.
“In addition to CAI’s core services, we look forward to expanding our daily valuation, health care consulting and collective investment fund (CIF) administration businesses in this key market,” said Barry S. Kublin, President of BPAS.
More information about BPAS is at http://www.bpas.com.