Plan Sponsor Bulletin Board
Year-end Capital Gains Distributions Notice
During December and early January each year, many funds make various capital gain distributions. This may cause a temporary drop in a fund’s share price until the dividend is posted several business days later. For a detailed explanation of this process, please read the full notice here.
Keeping Plan Participant Retirement Accounts Secure with Email Validation
One of the easiest ways to help prevent fraudulent retirement account activity is for plan participants to add a current, valid email address to their account. With an email address on record, BPAS will confirm by email any time activity occurs in their account. Would it surprise you to know that many people still haven’t updated their accounts to include their email address?
Why do we need participants’ email addresses?
Having a current, valid email address on record with BPAS has many benefits:
- Alerts for account login to new devices
- Notification of account activity
- Password resets
- Optional participation in our GoGreen option to receive electronic statements
Why are we asking for your help?
BPAS will never send participants an account link asking them to update personal information, including their email addresses. By having you email the request directly to plan participants we can avoid the possibility that they will think they’re receiving a phishing email or that we’re soliciting unnecessary information. Attached is a sample communication that you can email to plan participants. Although we’ve included a link to the login page, participants can go directly to our Participant login page at https://www.bpas.com/participants.
December 2017 Technology and Service Enhancements at BPAS
Attached is a special multimedia presentation prepared for you by Paul Neveu, President, BPAS Plan Administration & Recordkeeping Services. It highlights the many Technology and Service Enhancements happening at BPAS in our core daily valuation program. The presentation can be viewed from any laptop, tablet, or mobile phone with speakers enabled.
As you can see, the Roadways to Retirement program, which we offer in conjunction with our partners, continues to evolve with new features and technology. We think you’re going to love what we’re doing!
As always, please contact your BPAS representative with any questions.
Fall 2017 Plan Sponsor Newsletter
The latest edition of our plan sponsor newsletter, Retirement Plan News, is now available. Click here to read the newsletter. To view past newsletters please visit our plan sponsor newsletter library.
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 TrustSales@bpas.com or 866-401-5272 for more information.
Enhancement to Participant Login Process
Important note: Effective on April 22, 2017, BPAS is implementing enhancements to the login process of our participant website. While the new process is self-explanatory and intuitive, we have created a memo to summarize the change to participants. This memo can now be found here and also in the Resource Center of the participant and plan sponsor websites. Thank you for allowing us to provide this update.
Summary of Compliance Steps for New Fiduciary Regulations
The Department of Labor’s Conflict of Interest Rule will require changes to business practices by BPAS and many of our partners. This memo discusses some of the changes BPAS is preparing to make in order to comply with the new rule.