BPAS, is pleased to announce the launch of the “Retirement Gap Report” for the benefit of its retirement plan clients.
A Valuable Tool To Help Measure Your Plan’s Effectiveness
The Retirement Gap Report will help plan sponsors and advisors assess overall plan health by evaluating the projected retirement readiness of individual participants and the plan as a whole. The report is run monthly for all plan types and delivered online. Plan sponsors and their advisors may view the Retirement Gap Report by logging in at www.bpas.com. The report is located in the Resource Center, in Utilization Reports.
At BPAS we hope that “the Retirement Gap Report will encourage retirement plan committees to focus on retirement readiness. The report might indicate that the average employee in a plan is projected to accumulate 5.2 times final compensation by retirement age, which is not sufficient for most employees to retire. Seeing progress in these scores over time will allow a plan sponsor to measure the effectiveness of its own plan design decisions and the effectiveness of service providers in ‘moving the needle’ on key success measures.”
BPAS Strives To Improve Retirement Readiness
Working in partnership with financial intermediaries and sponsors, BPAS is committed to increasing participation and savings rates, which is crucial to improving retirement readiness scores and plan success measures. In addition to the Retirement Gap Report, BPAS offers comprehensive automatic enrollment / automatic escalation support, 360 payroll integration and other key services.
Current clients of BPAS are encouraged to contact their plan consultant at BPAS for details. Others may contact Paul Neveu, SVP Sales & Marketing at 603-580-5522 ([email protected]), for more information on BPAS and its full scope of services.