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Edcor Buys BenefitSource

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A Michigan tuition reimbursement program administrator is acquiring an independent benefit plan administrator.

Edcor Data Services Inc., Pontiac, Mich., says it has acquired BenefitSource Inc., Monroe, Mich., by buying BenefitSource’s stock.

BenefitSource manages a variety of benefit plans, including self-insured medical plans and short-term disability plans.

Steven Friend, the president of BenefitSource, will join Edcor as a vice president and help Edcor expand in the benefit plan administration and flexible savings account markets, Edcor says.

Edcor and BenefitSource will keep all current offices in operation, Edcor says.