Products March 8, 2011

National Investment Managers Sold to Stonehenge

March 8, 2011 (PLANSPONSOR.com) – National Investment Managers, a retirement plan administration and investment management company, has entered into a definitive agreement for the sale of the company to an entity owned and controlled by Stonehenge Opportunity Fund III.
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A news release said the deal price tag was $42.5 million in cash and is subject to working capital adjustments.  Completion of the sale is subject to certain terms and conditions, including shareholder approval. A special meeting of shareholders will be held on March 18, 2011 to vote on the transaction. 

As previously reported, the company has received voting agreements from holders of its Preferred and Common Stock sufficient to assure all required shareholder approvals of the sale to Stonehenge.

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National Investment Managers Inc. is a holding company and a consolidator of pension plan administration, investment management and insurance businesses.

Benefits March 8, 2011

Survey Finds HSAs Pass $10B Mark in 2010

March 8, 2011 (PLANSPONSOR.com) - Health Savings Accounts (HSAs) surpassed $10 billion at year-end 2010, according to a survey conducted by Devenir, an investment firm that specializes in providing investment options for HSAs.
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HSAs continue to see dramatic growth as the total number of HSA accounts rose to 6.2 million with assets totaling almost $10.1 billion, a year over year increase of 27% for accounts and a 41% increase in assets.   

A Devenir press release said the average account balance grew almost 11% in 2010 to $1,627. HSA investment assets reached an estimated $725 million in 2010 (102% year over year increase), and are projected to reach $10.3 billion by end of 2015.   

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The survey found the top five custodians hold over $4.4 billion in HSA assets amongst almost 2.7 million accounts, accounting for 44% of all HSA assets.   

The survey data was collected in January 2011 and primarily consisted of top 30 custodians in the health savings account market. All data was requested for the calendar 2010 year, ending on December 31, 2010.

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