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Federated

Pending shareholder approval, at the close of business on November 17, 2017, Federated MDT Large Cap Value Fund, will be re-domiciled, creating a new fund.  The Fund name, NASDAQ symbols and Tax Identification Number will remain the same.  The Fund numbers and CUSIP numbers will change.  More information.

PGIM Investments

Effective 6/1/18 the Prudential A, C, R and Z shares are closing to new investors, including group retirement plans. Prudential will be launching R2 and R4 shares of some funds. No changes will be made to Q shares. More information will be provided in December. No action is required at this time.  More information.

Donna Kramer Joins BPAS

BPAS anounced today that Donna Kramer has joined the firm as an External Wholesaler located in the New York City area. Donna’s focus will be on marketing the firm’s DB and DC administrative services in partnership with Advisors, Corporate Trustees and other financial intermediaries in the greater New York City (NYC) region.

Donna brings a wealth of industry experience to BPAS. She spent the last 25 years at an advisory firm in the NYC metro area. Read more.

BPAS Hires Midwest Wholesaler

BPAS, a leading national provider of retirement plan and fund administration, transfer agency, collective investment fund, and other institutional trust services, announced today that Mike Hahn has joined the firm as an External Wholesaler located in the Midwest. Hahn’s focus will be on developing the Midwest market in partnership with financial intermediaries and advisors.

Hahn brings to BPAS a wealth of industry experience having served in Business Development at Security National Bank and in Sales at Billings and Company in both Iowa and Illinois. “I am excited to join the BPAS team,” said Hahn. “I look forward to working with the team to further develop the Midwest region. I am very fortunate to be joining such a widely regarded, respected company.”

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Financial Organization

When I first started driving, I didn’t have a GPS to help guide me. Instead, I had my dad. When I would get lost (which was way more than I’d like to admit), I called home. The first thing dad would ask me is “where are you right now?” Because he couldn’t guide me to the final route if he didn’t know my current location.

Our financial road tends to follow a similar path – It’s hard to know where you’re going if you don’t know where you’re currently at. With that in mind, we created a document to assist you in organizing your current finances. Seeing where you are currently can aid you in determining if you’re on the right road or if you need to reroute your journey.

Take a few minutes to review and complete the document. While it may seem daunting at first, if you complete it in bite-size pieces, it won’t take much time at all. And it will help you pinpoint your current location. Use it to start a discussion with your spouse or partner, as well as your financial advisor, to make sure you’re all following the same path to your retirement goals.

You can find the Financial Organization Document under the Other Planning Tools section of our Participant Education Center or by clicking here.

DB 360: A New Direction for the Defined Benefit Plan Market

We are pleased to announce the launch of DB 360, our comprehensive BPAS outsourcing solution for the Defined Benefit market. Through the DB 360, we offer fully-bundled retirement plan services to Defined Benefit plans, including actuarial, administrative, communication, investment, and payer services.

The BPAS Advantage

With DB 360, plans at BPAS will enjoy savings in time, money, and simplified administration by having a single service provider and a dedicated team of consultants managing the entire pension relationship. Our full-service menu also provides accurate processing and reporting through a single data source, comprehensive employee communication, and combined maintenance of participant and plan data in a single system.

To learn more about the DB 360 solution at BPAS, click here to read additional details. Visit us at bpas.com or contact us at [email protected] or 866-401-5272 for more information.

BPAS Launches Next Generation HSA

BPAS, a leading national provider of retirement plan and fund administration, transfer agency, collective investment fund, and other institutional trust services, is pleased to announce the release of our next generation BPAS Health Savings Account offering.  This proprietary build off of our nationally recognized daily valuation recordkeeping platform is ideally suited for BPAS’ 401(k)/403(b) clients.  With single sign on, an open architecture investment platform that mirrors the plan sponsors’ DC plan offerings, combined statements, and integrated online and onsite participant education, the BPAS HSA serves the participant spenders and investors alike.  There are no requirements for low-yielding money market or bank deposit balances.  Participants invest first dollar and choose from an array of investments selected by the advisor, and they have debit card access to their account.

We have leveraged our retirement outsourcing service to provide for HSA online enrollment, contribution rate changes, utilization reports, and targeted messaging, making it easy for our plan sponsors to adopt.  We believe the industry is ready for fee transparency, a fiduciary level of service, multi-disciplinary financial literacy, and benefit administration outsourcing.

“The cost of retiree medical is overwhelming, and many participants who have successfully saved in their 401k/403(b) are ill-prepared for the costs of Medicare and other medical expenses.”  Barry Kublin CEO, BPAS, states. “The unique tax benefits of HSAs effectively complement traditional retirement savings, and we believe such guidance is more effectively delivered by financial advisors.”

For more information about the BPAS HSA, please contact Karni Adamson at 206-937-1124 or [email protected].

BPAS Sister Company Ranked Third in Nation by Forbes

Please join us in congratulating our sister company, Community Bank, N.A., on its ranking as one of the top 3 Best Banks in America by Forbes.

In determining the best banks, Forbes measures 10 key metrics on growth, asset quality, capital adequacy, and profitability. The bank jumped five spots from its eighth-place ranking in 2016 to third for 2017.To read the full press release from Community Bank, click here. To read the full article from Forbes, click here.

At BPAS, we are honored to be a part of the Community Bank family. Community Bank System, Inc. (CBSI) operates more than 200 customer facilities across Upstate New York and Northeastern Pennsylvania through its banking subsidiary, Community Bank, N.A. With assets of approximately $8.7 billion, the DeWitt, New York-headquartered Company is among the country’s 150 largest financial institutions. In addition to a full range of retail and business banking services, the Company offers comprehensive financial planning, insurance and wealth management services. Community Bank System, Inc. is listed on the New York Stock Exchange and the Company’s stock trades under the symbol “CBU.”

BPAS is a national provider of retirement plan and fund administration, transfer agency, collective investment fun, and other institutional trust services. We support 3,800 retirement plans, $52 billion in trust assets, $1 trillion in fund administration, and more than 400,000 participants. With our breadth of services, 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. Visit bpas.com for more details.