BPAS is pleased to announce that Victor Kwitkiwski has joined the organization as its Regional Sales Director covering the New England territory.

“Victor is a seasoned veteran in the business,” said Paul Neveu, President of BPAS Plan Administration & Recordkeeping Services. He has an impressive network of advisor relationships throughout New England who know him as ‘Victor K.’” He brings deep credibility across multiple lines of retirement related services and is committed to true open architecture and the fiduciary service model. We’re delighted to have Victor join the BPAS team.”

“I’m thrilled to join an organization that offers such a strong breadth of services and focus on participant outcomes,” said Victor. “It’s a unique, energizing, and empowering culture. BPAS is known for its industry leading hands-on engagements with financial intermediaries, plan sponsors, and participants. It’s refreshing to be part of a company with such a positive reputation with both its external partners and internal staff members.”

Victor brings to BPAS his nearly 25 years of experience in the retirement business. He holds a bachelor’s degree from the University of New Hampshire Peter T. Paul College of Business and Economics, the C(k)P® designation (Certified 401(k) Professional), and the CRPS® designation (Chartered Retirement Plans Specialist).

Philadelphia, PA (August 7, 2019) — BPAS, a leading national provider of retirement plans, benefit plans, fund administration, and collective investment trusts, has been selected by F&M Trust as the strategic partner for its retirement plan business across southern Pennsylvania.

BPAS began working with F&M Trust in 2007 on various retirement plan opportunities, providing recordkeeping, administration, and trading/custody services to bank clients. F&M Trust began to see differences among platforms and started getting requests for a higher level of plan consulting and HR outsourcing capabilities. This change led many clients to migrate to the F&M Trust/BPAS partnership.

In 2018, F&M Trust issued an RFP for its own corporate Defined Contribution (DC) and Defined Benefit (DB) plans. After reviewing several firms and alternatives, F&M Trust made the decision to consolidate these plans with BPAS. The DC plan converted to BPAS as of 1/1/2019; the DB plan is transitioning for a 1/1/2020 effective date. Combined, these plans have more than $50 million in assets and 600 participants.

“BPAS has been wonderful to work with as bundled recordkeeper for our 401(k) plan. They have provided great value to us as an administrative partner. When we were considering them as a potential partner to provide actuarial services for our Pension Plan, it was a no-brainer,” said Dr. Karen Carmack, Senior Vice President and Chief Human Resources Officer at F&M Trust. “The expertise they have in this area provided us with great comfort that they would be also able to handle the complexity of our Pension plan with ease. It will be nice to have all services relating to our retirement plans under one roof. This factor was significant in our decision-making process to move to BPAS.”

“Having worked with BPAS for many years, we kicked the tires thoroughly,” said Ronald Froeschle, Director of Retirement Plans at F&M Trust. “We felt good transitioning our DC and DB plans because of our overall comfort level with the BPAS people, expertise, and flexibility. We are excited to enhance our retirement plans through this partnership and consolidate the rest of our client plans as well.”

When all client plans are converted, the F&M Trust/BPAS partnership will serve approximately 50 qualified plans.

According to Paul Neveu, President of BPAS Plan Administration & Recordkeeping Services, “The focus of corporate trustees has shifted over the last decade. There has always been a focus on investments and fiduciary processes, but now we see more emphasis on outcomes – working with participants and retirement plan committees to drive key success measures for each plan. Our partnership with F&M Trust is a great example of this. We appreciate the expertise and commitment that F&M Trust brings to client relationships, as well as their open dialogue and constant evaluation of the plan sponsor and participant experience. We look forward to growing our partnership in the coming years as an extension to the range of banking and investment services that F&M Trust brings to the marketplace.”

“One of the things F&M Trust clients have talked about is the vertically integrated structure of BPAS, under which we serve as recordkeeper, TPA, clearing firm, and asset custodian—all under one roof,” added Joe Boyle, BPAS Regional Sales Director. “Clients like simplicity and accountability. F&M Trust clients have been looking for 3(16) services to take administration and communication work off their desk. Just about every HR team we talk to is tight on resources these days, so it has been a popular feature.”

Other services of the F&M Trust /BPAS partnership that have been popular with clients include full online enrollment, automatic enrollment, the MyPlanLoan™ loan continuation program, and the Roadways Health Savings Account (HSA) which can be paired with any 401(k) or 403(b) program. F&M Trust works with clients to help them determine which plan design and set of administrative features will best meet their needs.

About F&M Trust
A subsidiary of Franklin Financial Services Corporation, F&M Trust is an independent community bank headquartered in Chambersburg, PA. For more than a century, F&M Trust has embraced and defined what it means to be a community bank in South Central PA. With approximately $1.2 billion in assets, F&M Trust has 22 community offices in Franklin, Cumberland, Fulton, and Huntingdon counties.

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.

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.

Houston, TX (April 25, 2019) — Hand Benefits & Trust (HB&T), a BPAS company announced today the launch of two new collective investment funds (CIFs) in collaboration with Nottingham Advisors. HB&T is a leading national provider of employee benefit trust services including Collective Investment Trusts (CITs).

The Nottingham Advisors ESG Global All Asset and ESG Global Balanced Funds are dedicated to environmental, social and governance strategies. They bring together best-in-class managers specializing in ESG investing through a highly diversified portfolio of mutual funds, exchange traded funds (ETFs) and individual bonds. With its global scope, these new CIFs can be a total portfolio solution for investors.

Created by the Hand Composite Employee Benefit Trust and sponsored by Hand Benefits & Trust, a BPAS company, the CIF will enable Nottingham to service a wide range of institutional investors, especially in the defined contribution market where plan sponsors are seeking compliant and more cost effective investment options.

“It’s broadly recognized that there’s a growing demand among 401k participants for ESG investment options. Our funds satisfy that demand in a way that’s simple for plan sponsors and advisors to implement; a single line-item solution,” said Nottingham Advisors Chief Investment Officer, Larry Whistler, CFA. “ESG investing has become increasingly popular as more people want to invest in ways that align with their values. There’s also growing evidence that companies ranked highly by ESG metrics can have higher returns on equity, lower risk factors, and lower volatility.”

“As trustee, administrator, and transfer agent, we are looking forward to working with the Nottingham Advisors team,” added Stephen Hand, HB&T President. “CIFs generally provide for lower expense ratios, flexibility with underlying securities, and simplified 404(a)(5) compliance, which will make it easier for Nottingham Advisor clients to achieve their retirement goals.”

The Nottingham Advisors ESG Global All Asset and ESG Global Balanced Funds CIFs launched on April 1, 2019 and will be accessible to eligible retirement plans through most recordkeeping platforms.

Following the creation of Nottingham’s ESG separately managed account (SMA) strategies in the second quarter of 2018, the firm has been focused on solutions for both the retail and institutional 401K markets — and has been increasingly embedding ESG analysis across its broader investment platforms.

NOTTINGHAM ESG GLOBAL ALL ASSET CIF R1 – 41023L761

NOTTINGHAM ESG GLOBAL BALANCED CIF R1- 41023L738

About Nottingham Advisors

Founded in 1981, Nottingham is an SEC registered investment advisory (RIA) firm headquartered in Buffalo, NY. Nottingham offers a risked-based suite of ESG collective funds that can serve as a comprehensive solution for financial professionals, institutions and retirement plans seeking strong risk-adjusted performance through investments that match their values. For more information about Nottingham’s offerings, visit www.nottinghamadvisors.com or call 716-633-3800.

About BPAS and HB&T

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 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.

Notice 2019-18:  Offering a Lump-Sum Payment Option to Retirees Currently Receiving Annuity Payments under a Defined Benefit Plan

The Department of the Treasury (Treasury Department) and the Internal Revenue Service (IRS) have issued Notice 2019-18, allowing plan sponsors of defined benefit plans to offer a lump-sum payment to retirees already in pay status in lieu of the remaining monthly payments due to those retirees.  This notice reverses the stance outlined in Notice 2015-49, which stated that the Treasury Department and IRS would be issuing amendments to regulations clarifying that offering a lump-sum or other accelerated payment to retirees already in pay status would conflict with the intention of Code Section 401(a)(9).

Notice 2019-18 Summary:

• The Treasury Department and IRS “no longer intend” to amend the regulations to clarify that a lump-sum can not be offered to retirees in pay status.
• The Treasury Department and IRS will continue to study this issue.
• However, in the meantime, they will not consider a retiree lump-sum window as a violation.
• Private letter rulings will not be issued on the topic.
• For plan sponsors eligible for a determination letter, the IRS will not include a caveat regarding the topic of a lump-sum window offered to retirees.

View the full notice here.

Please reach out to your BPAS consultant with any questions regarding offering a lump-sum option to retirees currently in pay status.

Houston, TX (March 13, 2019) Hand Benefits & Trust (HB&T), a BPAS company announced today the launch of a new series of collective investment funds. HB&T is a leading national provider of employee benefit trust services including Collective Investment Trusts (CITs). The new series of funds, which will invest in BlackRock funds, consists of six passively-managed index strategies. They will launch as the least expensive index option available with no minimum investment. In addition, they will bring stronger benchmark tracking and institutional pricing to investors of all sizes, be available to qualified retirement plans, and trade on most major recordkeeping platforms.

“With this new series, all eligible plan sponsors and their participants can access best-in-class passively managed strategies,” said David Hand, HB&T CEO.

About BPAS and HB&T
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 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.