BPAS and MassPay Launch 360 Partnership
Jul 29, 2019
Boston, MA (July 29, 2019) – BPAS, a leading national provider of retirement plans, benefit plans, fund administration, and collective investment trusts and MP (MassPay), a provider of payroll, HR and wellness services, announced today they have successfully rolled out 360-degree integrated solutions for mutual plan sponsor clients.
The integration solution automatically links and synchronizes information between the plan sponsor, recordkeeper/investment provider, and employees. It’s a fully automated way to save time, reduce data entry errors, and protect data integrity without manual entries. Data is updated automatically between BPAS and MP whenever there is a change to one of the systems.
“Employers told us what they were looking for,” said Jason Maxwell, CEO of MP. “They want to select best-in-class solutions for plan administration and payroll services, not bundle them arbitrarily. And, they want to have the two firms work together seamlessly. That’s what we’re able to bring to the table with BPAS.”
Both MP and BPAS recognize the right of employers to manage their mix of service providers across employee benefit, payroll, and accounting services as they see fit. MP works with many different recordkeepers and BPAS works with many different payroll providers. The goal was to create an integration solution that would optimize the experience for mutual clients.
“Our model at BPAS is to put all clients on the freeway, meaning that we receive complete census data each payroll period, then perform a range of services on the client’s behalf to simplify their daily experience,” said Paul Neveu, President of BPAS Plan Administration & Recordkeeping Services. “This is the cornerstone of total retirement plan outsourcing for HR departments, and the timing is relevant given the current regulatory environment supportive of Pooled Employer Plans. It’s all predicated on receiving complete, accurate, and timely data. We are thrilled about our partnership with MassPay.”
While MP has clients across the U.S., the firm has historically provided payroll services to a large number of employers in New England. Through advisor partnerships, MP and BPAS began working together in 2014. Mutual clients between the firms have been using the 180 solution until now. MP will be upgrading clients to the 360 solution in the coming months.
About MassPay
MP provides powerful technology and dedicated support teams that understand clients and are there for them every step of the way with the goal of transforming the employee experience. MP provides a single solution and support for HR, Payroll, Hiring, Benefits Administration, Time & Attendance, Compliance as well as innovative Wellness and Hiring Solutions.
Founded in 2004, MP has been an Inc. 5000 fastest growing private company year after year. With five million users on the platform, MP clients benefit from state-of-the-art technology along with support that is focused on helping people make the difference. Visit https://www.masspaysolutions.com/ for more information.
About BPAS
BPAS is a national provider of retirement plans, benefit plans, fund administration, and collective investment trusts. We support 3,800 retirement plans, $77 billion in trust assets, $1 trillion in fund administration, and more than 450,000 participants. With our breadth of services, depth of creative talent, and financial resources, we are well positioned to help our clients solve all their benefit plan challenges without the need to engage multiple providers. One company. One call.
The BPAS family of services includes: Plan Administration & Recordkeeping, TPA, Actuarial & Pension, VEBA & HRA/HSA, Fiduciary, AutoRollovers & MyPlanLoan, Healthcare Consulting, Transfer Agency, Fund Administration, Custody, and Collective Investment Trusts.
Specialty practices include: Auto Enrollment Plans, Multiple Employer Trusts/Plans, Plans with Employer Securities, Puerto Rico Section 1081 Plans, VEBA HRA Plans, Cash Balance Plans, Collective Investment Trusts, and Fund Administration.
BPAS subsidiaries include: Hand Benefits & Trust, NRS Trust Product Administration, Global Trust Company, and BPAS Trust Company of Puerto Rico.
As a solutions-oriented national practice, we are committed to “Solving Tomorrow’s Benefit Challenges Today.” Visit bpas.com for more information.