DoL

Proposed DoL Fiduciary Rules to be Key Topic for Discussion at the 2015 BPAS Partner Conference

Proposed DoL Fiduciary Rules are to be a key topic for discussion at the 2015 BPAS Partner Conference.

Apr 28, 2015

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April 27, 2015- CHARLOTTE, NC — Last week, the Department of Labor (DoL) released a 120-page proposal aimed at redefining who is (and isn’t) a “fiduciary” of an employee benefit plan under the Employee Retirement Income Security Act of 1974 (ERISA). The release has unleashed an industry-wide flood of debate, confusion, and concern regarding the rules of engagement.

Understanding the complexities of the proposed rule-changes is so critical, it has moved to the forefront of the 2015 BPAS Partner Conference agenda. The Partner Conference, which is set for June 15-17 at the Le Meridien Hotel in Charlotte, NC, is a national symposium geared to Advisors and Trustees in the retirement plan business.

The proposed regulations will affect the sales process, plan-to-plan transfers and IRA rollover transactions. All service providers will have to re-evaluate their advice offerings and strategies to retain plan assets. “The totality of the proposed regulations seems to support the concept of lifetime DC plans vs. the concept of DC accumulation/IRA feeder group plans,” noted Barry Kublin, President of Benefit Plans Administrative Services, Inc. (BPAS).  “I’m certain it will make for some lively, heated discussions among the trustees and financial advisors attending the BPAS Conference.”

“This national conference comes at an ideal time”, stated Paul Neveu, President of BPAS’ defined contribution practice subsidiary.  “Our hope is that the attendees at our conference will use this forum to identify ‘best Interest’ strategies that attract new and retain existing clients.”

The BPAS conference will cover a wide range of other retirement services. Joining Kublin and Neveu will be Tom Kmak, Co-founder & CEO of Fiduciary Benchmarks; Ralph Acampora, CMT – Senior Managing Director for Altaira Wealth Management; and Steve Saxon, Chairman of Groom Law Group. There will also be a number of Advisors, Trustees and Sponsors leading discussions.  A major emphasis for this event is partner collaboration—allowing Advisors and Corporate Trustees to discuss specific sales and service strategies that can be effectively deployed.

For more information or to register for the conference, go to partnerconference.bpas.com.

Benefit Plans Administrative Services, Inc. (BPAS), which includes Harbridge Consulting Group, BPAS Trust Company of Puerto Rico, and Hand Benefits & Trust Company, is a national provider of retirement plan administration, actuarial, consulting, collective investment fund administration and VEBA / HRA services to a diverse array of clients spanning the United States and Puerto Rico. We service over 3,600 retirement plans and 375,000 plan participants through partnerships with a wide array of financial intermediaries and hold $18.6 billion of assets under custody. BPAS service offerings also include automatic rollover and post termination loan administration services. With nine offices and 250 employees, BPAS has the depth of professional and technology resources to deliver value-added services to all employee benefit stakeholders. At BPAS, we are committed to “Solving Tomorrow’s Employee Benefit Challenges…Today.” For more information, visit BPAS.com.