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Ascensus TPA Solutions Appoints Dan Kravitz as National Practice Leader for Cash Balance PlansDRESHER, Pa., Feb. 13, 2019 /PRNewswire/ -- Ascensus TPA Solutions, the nation's largest retirement TPA firm, is pleased to announce the appointment of Dan Kravitz as national practice leader for Cash Balance plans. In this role, Kravitz will expand the firm's growing Cash Balance market share with innovative sales strategies, advisor outreach programs, and sales integration within the broader TPA Solutions network.
Also known as "hybrid" plans, Cash Balance plans combine the high contribution limits of traditional defined benefit plans with the flexibility and portability of a 401(k). Business owners enjoy greater tax deferral and can catch up on delayed retirement savings while enhancing contributions to their employees. Ascensus acquired Kravitz, Inc., in 2017 as part of its strategy of buying and integrating best-in-class TPA firms across the country, including many local market leaders with unique specialty expertise. Following the 2018 acquisition of nine other TPA firms with substantial Cash Balance business, Ascensus TPA Solutions now serves more than 2,700 Cash Balance plans of all sizes across diverse industries. "Cash Balance is the fastest growing sector of the retirement plan market and no one is better positioned to lead our expansion strategy than Dan Kravitz," said Jerry Bramlett, head of TPA Solutions. "He has been a pioneer in the Cash Balance space fr more than a decade and played a major role in increasing national awareness, contributing to 20% average annual growth in this marketplace." "We now have 20 actuaries with Cash Balance expertise supported by a deep bench of hundreds of advanced technical plan professionals," continued Bramlett. "We're unique in our ability to offer high-touch local service backed by national strength and security." In his prior role as owner and president of Kravitz, Inc., Kravitz developed a singular focus on Cash Balance plans and expanded the firm across the country, earning a nationwide reputation for cutting-edge plan design and unique strategic solutions. He introduced Cash Balance daily recordkeeping to the industry, founded Cash Balance Coach™, the first Cash Balance training and certification program for retirement plan advisors, and wrote the book, "Beyond the 401(k), How Financial Advisors Can Grow their Businesses with Cash Balance Plans." Kravitz has over 25 years of experience in retirement plan consulting. "I'm honored to take on this new national leadership role," said Kravitz. "The Cash Balance market is fast-growing but underserved—there are thousands of small to mid-size businesses that could reduce their tax burden, catch up on delayed retirement savings, and improve retirement outcomes for staff by adding a Cash Balance plan." "Our goal is to make sure that all of these businesses have the opportunity to do so through our expanded program at TPA Solutions, which is a key part of the Ascenus mission to address America's retirement savings crisis," concluded Kravitz. About TPA Solutions About Ascensus
SOURCE Ascensus 
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