CBIZ Acquires The Savitz Organization

Leading benefits outsourcing provider CBIZ announced April 1 that it has acquired Philadelphia-based The Savitz Organization.

CBIZ President and CEO Jerry Grisko hailed the acquisition as a step that would help CBIZ to “serve virtually every need of a domestic pension plan sponsor” and to expand its expertise and credentialed actuarial team. CBIZ provides a wide array of services, including accounting, tax, retirement plan and benefits consulting, financial advisory, risk advisory, and valuation services from more than 100 offices in 33 states.

The Savitz Organization, founded in 1968, provides actuarial, consulting and administration services to mid-sized organizations across the United States. The firm has deep ties to the American Society of Pension Actuaries (ASPA, now ASPPA):

• Its founder, Samuel J. Savitz, served as ASPA’s third president, in 1972.

• Tom Finnegan, who serves as its managing principal for compliance and directs its plan design and compliance unit, is a past president of ASPPA (in 2011), the ASPPA College of Pension Actuaries (ACOPA) (in 2014), and the American Retirement Association (in 2015). He has chaired the Defined Benefits Subcommittee of ASPPA’s Government Affairs Committee and currently serves as that committee’s senior advisor. Finnegan has taught advanced pension consulting classes for ASPPA, and received ASPPA’s Educators Award in 2008.

Savitz Managing Principal Ed Bishop said that the firm is “very excited to join CBIZ” and that he expects that the acquisition will enable Savitz to better serve its clients through a wider range of services, and will benefit its staff as well.