WALTHAM, Mass. - GoldK has agreed to buy the retirement plan services division of Gallagher Benefit Services of Michigan Inc.'s retirement plan services division.
GoldK, which delivers 401(k) plans and individual retirement accounts with online capabilities, would acquire $700 million of plan assets and 25,000 active participants in 300 plans by purchasing the unit.
Gallagher's retirement plan services division provides 401(k), 457, defined-benefit, and money-purchase plans. Its 31 employees in Troy, Mich., and Washington would be retained after the acquisition.
The deal was announced March 5. The price was not disclosed.