Watson Wyatt will hand off approximately 120 public-sector retirement plan actuarial and consulting clients to Gabriel Roeder Smith, under a partnership agreement between the two benefits consulting firms. Five to 10 Watson Wyatt employees will become Gabriel Roeder Smith employees as a result, said Paul Zorn, Gabriel Roeder Smiths director of governmental research. Representatives of both firms said the partnership is not part of a plan to merge the two consulting firms.
The agreement allows Watson Wyatt to "focus on a core (business) of human resources consulting, including retirement and employee benefits, said Eric Lofgren, global director of Watson Wyatts benefits consulting group.
The firms will work together starting Aug. 31 on consulting, research, training sessions and technological projects, Mr. Zorn said.
The clients shifted to Gabriel Roeder Smith will not include federal government plans.