Louis Kravitz & Associates Inc. has come out with financial services products aimed at employers with “year by year” defined benefit pension plans.

Kravitz, Encino, Calif., is working with a registered investment advisor arm, Kravitz Davis Sansone Inc., to offer the Kravitz Cash Balance Maturity Portfolios.

The firm is selling the portfolios to managers of cash-balance pension plans.

Managers of cash-balance plans fund the plans on a year-by-year basis, rather than using funding formulas that assume employees will stay with the plan for a set period of time.

The portfolios are designed to evolve as participants age and the participants’ tolerance for risk changes, Kravitz says.

Stephan Miskjian, the portfolio manager for KDS, will manage the Kravitz Cash Balance Maturity Portfolios, Kravitz says.

The portfolios will provide exposure to up to 17 asset classes and 21 mutual funds and exchange traded funds, the firm says.