The Department of Labor’s Conflict of Interest Rule will require changes to business practices by BPAS and many of our partners. This memo discusses some of the changes BPAS is preparing to make in order to comply with the new rule.

The year end capital gain process is underway once again. Since participants often ask questions when they see share prices fluctuate coincident with capital gain distributions, BPAS  has prepared this memo to better explain the process.

BPAS is pleased to roll out the second version of the Quarterly Plan Review Report (QPRR), which replaces the Annual Plan Review Report through an improved quarterly format. While this quarter’s version is approximately 17 pages in length, the QPRR will be continuously expanded in coming quarters. To see the QPRR, please see the plan sponsor website Resource Center (then Plan Information and Reports, Quarterly Plan Reports, select the current plan year and most recent quarter). In addition, the Fund Performance Grid is a useful tool for reviewing fund performance over time. It can be found in the Education section of the Resource Center (plan sponsor and participant websites). We hope clients find these tools useful in the ongoing management of their retirement plan.

New Securities and Exchange Commission (SEC) rules regarding money market funds will take effect in October, 2016. The impact of these new rules is that certain money market funds will become subject to “gating” (which can limit their ability to support redemptions on a given day). As such, these money market funds will no longer be suitable investments for daily valued defined contribution plans and have been replaced with a Government equivelant that is not subject to “Gating”. An Updated 404a(5) Notice has been prepared for all applicable clients regarding this transition. To see this notice, Please visit the participant or sponsor website Resource Center.

Recently we have made significant upgrades to our participant website. As a result of these upgrades, a small percentage of users may experience minor issues upon accessing the upgraded site for the first time. If you experience any issues with the upgraded site, please reference this troubleshooting guide.