Actuarial firms Cheiron, EFI to merge

Cheiron and EFI Actuaries have entered into a merger agreement, effective Jan. 1, confirmed Gene Kalwarski, Cheiron founder, CEO and principal consulting actuary.

EFI Actuaries, focusing on public pension plans, will become an operating division of Cheiron, which has primarily worked with public and multiemployer pension plans as well as health and welfare plans.

Terms of the agreement are confidential, Mr. Kalwarski said.

Edward H. Friend, EFI founder, president and CEO, said he will provide strategic guidance to Cheiron and will not have a title.