A 403(b) plan administrator has acquired a Florida school plan administration group.

U.S. Retirement Partners Inc., Iselin, N.J., says it has scooped up JM & Associates, Orlando, Fla.; Michael A. Borgailo & Associates, Orlando; Summerfield Financial, Orlando; BRC Agency, Orlando; and Retirement Planning Associates, Orlando.

The firms, all owned by Joe Avallone, Michael Borgailo and David Payne, all run 403(b) plans for K-12 teachers, U.S. Retirement says.

The 403(b) plan group is the largest independent 403(b) plan administration firm in Florida and one of the largest in the country, U.S. Retirement says.

The group now has 100 advisors, and it now hopes to increase the total number of advisors to 140, Payne says.