A national 403(b) plan provider is buying a distributor in Southern California.

U.S. Retirement Partners Inc., Iselin, N.J., has acquired USD Insurance and Financial Services Inc., Los Angeles. USD was founded in 2000 by Chris Quirarte and now has 8 403(b) plan advisors.

U.S. Retirement helps administer 403(b) retirement plans for about 350,000 clients. It has been an active buyer of other 403(b) plan firms. Recently, the firm acquired another West Coast 403(b) plan firm – Employee Benefits Services Group, Campbell, Calif.

Advisors are courting 403(b) plan sponsors because the U.S. Labor Department is implementing new laws and regulations that could lead some sponsors that have been administering their own plans to seek outside help.

- Allison Bell

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