LOS ANGELES & NEW YORK--(BUSINESS WIRE)--Kravitz announced today the December 14 launch of Cash Balance Online™, a new web-based back office solution for Third Party Administrators who want to sell Cash Balance Retirement Plans. Currently, many TPA firms are unable to offer these popular qualified plans due to the high costs of actuarial staffing and software acquisition. Cash Balance Online™ removes these obstacles, allowing TPAs to manage the client relationship with seamless web-based administration powered by Kravitz.
Also known as ‘hybrids,’ Cash Balance Plans combine the high contribution limits of traditional defined benefit plans with the flexibility and portability of 401(k) plans. Many business owners can double or triple their pre-tax retirement savings while affordably enhancing benefits for employees.
Cash Balance Online™ empowers TPAs with marketing tools, free plan designs, and a private label option to brand their client’s Cash Balance web portal with the TPA firm logo. Plan sponsors and participants enjoy a user-friendly secure online retirement center where Cash Balance accounts are updated daily. Users can generate on-demand statements and reports while taking advantage of custom tools and features.
“Cash Balance Plans are the fastest growing retirement plan category in the country, but many TPAs have been unable to take advantage of their popularity,” said Dan Kravitz, President of Kravitz and Cash Balance Online, Inc. “It’s our mission to bring Cash Balance Plans into the mainstream, giving TPAs all the tools and seamless back-office support needed to help clients take full advantage of this excellent retirement savings opportunity.”
Kravitz, a national innovator in the design, management and administration of Cash Balance Plans, developed Cash Balance Online™ with a combination of in-house actuarial expertise and the assistance of leading national technology partners.
About Kravitz: Since 1977, Kravitz has offered the latest in design, administration, and management of corporate retirement plans. The company designed its first Cash Balance Plan in 1989. Today Kravitz administers over 1,200 plans, including 300 Cash Balance Plans, helping over 150,000 people retire successfully. Headquartered in Los Angeles, Kravitz has offices in New York and satellite offices in nine states. Visit www.CashBalanceDesign.com