Benefit Plans Administrative Services (BPAS) was founded in 1973 in Central New York. The 23 years of our operation focused on providing balance-forward administration to pension and profit sharing plans. We entered the daily valuation business in 1996, the same year we were acquired by Community Bank System, Inc. (NYSE: CBU). This corporate structure opened up new possibilities for our firm. It provided a national trust charter and membership in the National Securities Clearing Corporation through our sister company CBNA – two critical ingredients to offering a true bundled solution to our clients. It also allowed us to change our focus from direct selling plans within the Bank’s footprint area to taking our services nationally in partnership with financial intermediaries.
Today, BPAS is a national provider of retirement plan administration and related services. We serve more than 4,000 retirement plans and 400,000 participants through partnerships with financial advisors and hold more than $19 billion of assets under custody. With our breadth of services, we are well positioned to help our clients solve their benefit plan challenges without juggling lots of providers to get there.
Our family of services include: BPAS Plan Administration & Recordkeeping Services, BPAS Actuarial and Pension Services, BPAS TPA Services, BPAS Fiduciary Services, BPAS Healthcare Consulting Services, BPAS VEBA & HRA/HSA Services, BPAS AutoRollovers & MyPlanLoan Services, Hand Benefits & Trust (a BPAS Company), and BPAS Trust Company of Puerto Rico.
Specialty practices include auto enrollment plans, multiple employer plans, plans with employer securities, PR 1081 plans, VEBA/HRA plans, cash balance plans and collective investment fund administration.
With ten offices across the nation and 260 retirement plan professionals, we are committed to “Solving Tomorrow’s Benefit Challenges Today.” Look to BPAS for all of your retirement and benefit plan administration needs. One company. One call.