Do you feel like a fish out of water with your current ESOP/kSOP provider?
If you feel like your current ESOP/kSOP provider doesn’t really get you, you’re not alone. Few administration firms truly understand ESOPs or kSOPs (plans that combine ESOPs with 401(k)s).
Many providers try to service these “outside-of-the-box” plans with existing 401(k) service teams, which is never a good idea. Doing so might involve a trade-off with proprietary funds, insurance-based statements, surrender penalties, or other restrictions.
How We Do Things
At BPAS, we take a different approach to ESOP, kSOP, and plans with company stock. We partner with Advisors and Corporate Trustees in servicing retirement plans to offer the following:
- A dedicated team of experienced plan consultants who know the plans inside and out
- Six different methodologies of handling company stock, with a preference for share accounting whenever possible (our approaches include price guaranteed, pended trades, treasury trades, unitization and several hybrid approaches)
- Flexibility to work with widely traded stock, thinly traded stock or closely held issuances
- Proven success with kSOPs, dividend pass-through elections, proxy voting issues, in-kind distributions, mergers and acquisitions, and related issues
- A vertically integrated solution where we serve as your recordkeeper, clearing firm and custodian all under one roof, providing simplicity and accountability, and a certified audit package
- A single system so every penny of plan assets appears on statements, reports and the website