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Overview

Overview

BPAS AutoRollovers is a no-hassle IRA for former participants who are subject to a mandatory distribution. A no-cost, streamlined account set-up process saves time and money. Plus the entire distribution process is fully automated for plans on the BPAS platform.

Key Features

  • We provide a distribution package to terminated participants who will be subject to mandatory distribution.
  • After 60 days, we perform an AutoRollover to an IRA product for any participant who didn’t elect a distribution.
  • Participants receive a Welcome Letter providing them with information on accessing and taking advantage of their new IRA account.
  • No fees for the plan sponsor.
  • Works with all platforms.
  • Online IRA reporting, monitoring, and 24/7 account access.
  • Simplified plan sponsor agreement.
  • Eliminates future disclosure requirements for distributed accounts.
  • Safe-Harbor compliant.

Designed For

AutoRollovers makes it easy for plan sponsors to manage mandatory distributions. Choosing AutoRollovers helps:

  • Delay requirements to filing as a large plan.
  • Accelerate access to forfeiture dollars.
  • Avoid tedious required disclosures to terminated participants with smaller balances.
  • Minimize the likelihood of having “missing participants” in the case of plan termination.
  • Reduce administrative costs based on the number of participants, including PBGC premiums.

Download the AutoRollovers Informational Brochure to Learn More
Download (PDF)

Next Steps

Interested in adding AutoRollovers to your retirement plan?

Visit: www.autorollovers.com for more information and to get started.

BPAS Clients: Just contact your dedicated Plan Consultant to put AutoRollovers to work for you!