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2020

June 18, 2020

Hand Benefits & Trust Launches Collective Trust Tickers on Nasdaq Fund Network

Houston, TX (June 17, 2020) — Hand Benefits & Trust (HB&T), a BPAS company, announced today it has gone live with more than 30 Collective Investment Trust (CIT) tickers and associated CUSIP numbers via the Nasdaq Fund Network. HB&T is a leading national provider of employee benefit trust services and a pioneer in CITs partnering with over 50 investment firms to create more than 240 funds and 500 CUSIPs.

Nasdaq Fund Network (NFN) expanded its coverage to include CITs, bringing increased transparency to the market. The NFN platform facilitates the collection and dissemination of critical data for investable products and generates tickers. The new CIT tickers empowers investors to find their relevant investment performance data on a variety of institutional market data platforms and financial web portals, such as Yahoo! Finance, CNBC, Wall Street Journal, MarketWatch, Barron’s, Refinitiv, Bloomberg and FactSet.

CITs offer a variety of advantages for retirement plan participants, sponsors, and service providers, including low expense ratios and transparent pricing, flexibility in fund holdings, transparency in fund holdings, and simplified tracking.

HB&T is a Cerullli top-rated organization for hosted trustee services. It serves as the trust company to help investment management firms create new funds or take an existing strategy to an expanded market through its transfer agency services.

“Wide adoption of CITs in not just large plans, but all plans, is vital to the success of the retirement plan industry,” said David Hand, HB&T CEO. “Barriers to entry exist in smaller plans where it is key for them to have access to all retirement platforms, creative share class design, and information equal to other securities. With the latter just accomplished, HB&T continues to be a market leader in CIT distribution.”

“The HB&T model was built to seamlessly integrate fund administration services, transfer agency services, and trustee services,” added Barry Kublin, BPAS CEO. “The combination drives process efficiency that produces cost savings and improves quality. Less moving parts simplifies arrangements for investment professionals and their clients. When it comes to designing, delivering and operating CITs, no one has more experience than the BPAS family of trust companies, which also includes Global Trust Company and BPAS Trust Company of Puerto Rico.”

About BPAS and HB&T
BPAS is a national provider of retirement plans, benefit plans, fund administration, and collective investment trusts. We support 3,800 retirement plans, $86 billion in trust assets, $1 trillion in fund administration, and more than 450,000 participants. With our breadth of services, depth of creative talent, and financial resources, we are well positioned to help our clients solve their benefit plan challenges without the need to engage multiple providers. One company. One call.

BPAS services: Plan Administration & Recordkeeping, Actuarial & Pension, Collective Investment Trusts, Fund Administration, Custody, Transfer Agency, 3(16)/3(38), Healthcare Consulting, IRA, HSA, VEBA/HRA, FSA.

BPAS specialty practices: Auto Enrollment Plans, Multiple Employer Trusts/Plans, Plans with Employer Securities, Puerto Rico Section 1081 Plans, VEBA HRA Plans, Cash Balance Plans, Collective Investment Trusts, and Fund Administration.

BPAS subsidiaries: BPAS Trust Company of Puerto Rico, Global Trust Company, Hand Benefits & Trust, and NRS Trust Product Administration.

As a solutions-oriented national practice, we are committed to “Solving Tomorrow’s Benefit Challenges Today.” Visit bpas.com for more information.

May 08, 2020

BPAS Names VP of Defined Benefit Sales

Syracuse, NY (May 8, 2020). BPAS Actuarial & Pension Services (APS) announced today that Jason Disco has been promoted to Vice President, Sales. BPAS APS is a division of BPAS, a leading national provider of retirement plans, benefit plans, fund administration and collective investment trusts.

Disco joined BPAS APS in 2015 as Director of Defined Benefit (DB) Sales where he focused on delivering innovative DB solutions, including traditional and cash balance plans and DB participant services (PensionEase) to financial intermediaries and clients across the nation. He is a results-driven sales leader with more than 20 years of experience in the retirement plan industry including key sales positions with ERISA Consultants and Lifetime Benefit Solutions.

“Jason is the architect behind our extremely successful DB 360 offering,” said Vince Spina, President, BPAS Actuarial & Pension Services. DB 360 assembles all aspects of managing a defined benefit plan – actuarial, participant level administration, investment advisory, payor, and trust services – under a single roof. “Thanks to Jason, the simplicity of traditional and cash balance plan servicing is resonating with plan sponsors,” Spina added. “Jason is the ultimate quarterback, assembling the right team for each client’s specific needs. This promotion was just a natural progression for a very talented leader.”

“Jason’s intuitive collaborative skills perfectly align with the BPAS mantra of one company, one call,” said Paul Neveu, President, BPAS Plan Administration & Recordkeeping Services. “We look forward to collaborating with him in this new leadership role.”
BPAS APS is one of top 20 retirement plan actuarial practices in the U.S., with 70 employees, including 25 actuaries. As Vice President, Sales, Disco will oversee the DB plan sales process and work with financial intermediary partners to distribute actuarial and consulting services nationwide. He will also coordinate consulting services for DB/DC (defined contribution) combination plans, healthcare consulting, health savings accounts (HSA), DB 360, collective investments, PensionEase, and other comprehensive solutions for clients across the nation.

“I’m looking forward to leading the development of new distribution channels and working with the BPAS Sales team to distribute our superior actuarial and consulting services nationwide,” said Disco. “With my extensive knowledge of DC and DB plans and collaborative spirit, I’m excited to be consulting with financial intermediaries to help build their retirement practices.”

About BPAS

BPAS is a national provider of retirement plans, benefit plans, fund administration, and collective investment trusts. We support 3,800 retirement plans, $86 billion in trust assets, $1 trillion in fund administration, and more than 450,000 participants. With our breadth of services, depth of creative talent, and financial resources, we are well-positioned to help our clients solve all their benefit plan challenges without the need to engage multiple providers. One company. One call.

BPAS services: Plan Administration & Recordkeeping, Actuarial & Pension, Collective Investment Trusts, Fund Administration, Custody, Transfer Agency, 3(16)/3(38), Healthcare Consulting, IRA, HSA, VEBA/HRA, FSA.

BPAS specialty practices: Auto Enrollment Plans, Multiple Employer Trusts/Plans, Plans with Employer Securities, Puerto Rico Section 1081 Plans, VEBA HRA Plans, Cash Balance Plans, Collective Investment Trusts, and Fund Administration.
BPAS subsidiaries: BPAS Trust Company of Puerto Rico, Global Trust Company, Hand Benefits & Trust, and NRS Trust Product Administration.

As a solutions-oriented national practice, we are committed to “Solving Tomorrow’s Benefit Challenges Today.” Visit bpas.com for more information.

March 09, 2020

BPAS Hires Sales Director to Expand Southeast Region

Utica, NY (March 5, 2020) — BPAS, a leading national provider of retirement and benefit plans, fund administration, and collective investment trusts, announced today that John Lutz has joined the organization as its Regional Sales Director managing the Southeast territory.

“John brings extensive industry experience to BPAS,” said Elizabeth Kaido, Vice President of Sales with BPAS Plan Administration & Recordkeeping Services. “With his demonstrated expertise, combined with our full suite of defined contribution plan offerings, actuarial services, an open architecture HSA, and collective investments for advisors, John is well positioned to help us expand our presence in the Southeast region. We’re thrilled to welcome John to the BPAS team.”

“I’m excited to join the BPAS organization. We’re a unique option because our costs are never leveraged by investment selection, and our administration is always integrated across trust, custodian, trading, and recordkeeping. These features eliminate so many fiduciary liabilities and day to day recordkeeping headaches; I know business owners are looking for this kind of solution,” said John Lutz. “I look forward getting out there to share the BPAS story.”

“I’m excited to join the BPAS organization. We’re a unique option because our costs are never leveraged by investment selection, and our administration is always integrated across trust, custodian, trading, and recordkeeping. These features eliminate so many fiduciary liabilities and day to day recordkeeping headaches; I know business owners are looking for this kind of solution,” said John Lutz. “I look forward getting out there to share the BPAS story.”

John brings to BPAS more than 20 years of experience in the retirement plan industry. He is an alumnus of Ohio University, is an assistant coach at American Top Team Atlanta, and holds a Series 7 License.

About BPAS
BPAS is a national provider of retirement plans, benefit plans, fund administration, and collective investment trusts. We support 3,800 retirement plans, $86 billion in trust assets, $1 trillion in fund administration, and more than 450,000 participants. With our breadth of services, depth of creative talent, and financial resources, we are well positioned to help our clients solve all their benefit plan challenges without the need to engage multiple providers. One company. One call.

The BPAS family of services includes: Plan Administration & Recordkeeping, TPA, Actuarial & Pension, VEBA & HRA/HSA, Fiduciary, IRA, Healthcare Consulting, Transfer Agency, Fund Administration, Custody, and Collective Investment Trusts.

Specialty practices include: Auto Enrollment Plans, Multiple Employer Trusts/Plans, Plans with Employer Securities, Puerto Rico Section 1081 Plans, VEBA HRA Plans, Cash Balance Plans, Collective Investment Trusts, and Fund Administration.

BPAS subsidiaries include: Hand Benefits & Trust, NRS Trust Product Administration, Global Trust Company, and BPAS Trust Company of Puerto Rico.

As a solutions-oriented national practice, we are committed to “Solving Tomorrow’s Benefit Challenges Today.” Visit bpas.com for more information.

March 03, 2020

BPAS and RENOVA Solutions Launch Payroll Integration Partnership

San Juan, PR (March 2, 2020) – BPAS, a leading national provider of retirement and benefit plans, fund administration, and collective investment trusts announced today it has successfully rolled out 180-degree integration with RENOVA Solutions (RENOVA) for mutual plan sponsor clients. RENOVA is a provider of payroll services and technological human capital solutions based in Puerto Rico.

The BPAS-RENOVA integrated solution improves administrative staff productivity and enhances data security and integrity. The two companies created the integrated solution exclusively for their mutual customers who use the RENOVA platform and BPAS services. It is the first such offering in Puerto Rico.

“Our focus on payroll technology is relentless,” said Wilfredo Cosme, Co-founder, and President of RENOVA Solutions. “We are excited to further our integration with the different platforms involved in human capital management, in this case, the BPAS benefits platform. The integration of technology and human resources transforms the customer experience, which is an essential part of our mission,” he added.

Cosme credits Finanxial Group for making the alliance possible.  “We want to thank our friends and business partners from Finanxial Group for putting together RENOVA and BPAS along with their valuable input as investment advisors and leaders in designing and advising retirement plans in Puerto Rico,” said Cosme. “This triumvirate strategic alliance creates a strong solution for current and future clients. We have selected best-in-class solutions for plan administration, payroll services and plan advisors, with each firm working together seamlessly. That’s what we’re able to bring to the table with BPAS and Finanxial.”

RENOVA integrates with several accounting systems, and BPAS works with many different payroll providers. The collaboration provides value-added benefits to mutual clients.

“Our goal was to reduce the administrative workload for employers offering a retirement plan benefit to employees,” said Alfredo Matheu, President of BPAS Trust Company of Puerto Rico. “We’re thrilled about our partnership with RENOVA,” he added. “It will be a terrific resource for current and future clients seeking ease of administration for their benefit programs. We’re now able to deliver a high-touch service environment with minimized routine tasks and maximized automation between the recordkeeper and the payroll system. It is truly a first-of-its-kind offering for the Puerto Rico market.”

About RENOVA Solutions

RENOVA Solutions provides powerful technology and dedicated support teams that understand clients and are there for them every step of the way to transform the employee experience. RENOVA provides a single solution and support for HR, Payroll, Hiring, Benefits Administration, Time & Attendance, Compliance as well as innovative Wellness and Hiring Solutions.

Founded in 2012, RENOVA has been a growing private company year after year. With more than 20K users on the platform, RENOVA clients benefit from state-of-the-art technology along with support focused on helping people make the difference.  Visit https://www.renovasolutions.com for more information.

About Finanxial Group
Finanxial is a professional service group providing the widest range of financial services in Puerto Rico lead by Fernando Navarro, CPA/PFS, CFP, CIA, and Andrés Morgado CPA/PFS, CFP, Esq. Finanxial Group is the first and only CPA firm to grow into a truly financial service from financial consultants to investment advisory services, specializing in retirement plans. Services are focused on design, implementation, and advice to retirement plans based on each client’s need to maximize benefits by using the best products and providers for the plans.

About BPAS

BPAS is a national provider of retirement plans, benefit plans, fund administration, and collective investment trusts. We support 3,800 retirement plans, $86 billion in trust assets, $1 trillion in fund administration, and more than 450,000 participants. With our breadth of services, depth of creative talent, and financial resources, we are well positioned to help our clients solve all their benefit plan challenges without the need to engage multiple providers. One company. One call.

The BPAS family of services includes Plan Administration & Recordkeeping, TPA, Actuarial & Pension, VEBA & HRA/HSA, Fiduciary, IRA, Healthcare Consulting, Transfer Agency, Fund Administration, Custody, and Collective Investment Trusts.

Specialty practices include Auto Enrollment Plans, Multiple Employer Trusts/Plans, Plans with Employer Securities, Puerto Rico Section 1081 Plans, VEBA/HRA Plans, Cash Balance Plans, Collective Investment Trusts, and Fund Administration.

BPAS subsidiaries include Hand Benefits & Trust, NRS Trust Product Administration, Global Trust Company, and BPAS Trust Company of Puerto Rico.

As a solutions-oriented national practice, we are committed to “Solving Tomorrow’s Benefit Challenges Today.” Visit bpas.com for more information.

January 07, 2020

BPAS Launches First Ever Puerto Rico Collective Investment Fund

San Juan, PR (January 7, 2020) ― BPAS, a leading national provider of retirement plans, benefit plans, fund administration, and collective investment trusts, announced today that the Puerto Rico Pension Board has selected the PR Capital Preservation Fund (Fund) for inclusion in the new PR Act 106 DC Plan for Government employees. It is the first-ever Collective Investment Fund (CIF) created by a PR financial institution. Under Act 106, the new CIF will be the default investment for the plan which covers 110,000 participants. BPAS received a favorable private-letter ruling from the PR Treasury Department approving the Fund as a “Qualified PR Security” which provides for certain tax benefits related to lump-sum distributions.

BPAS Trust Company of Puerto Rico will serve as the Fund trustee and investment manager. Hand Benefits & Trust, a BPAS company, will be the agent for administration. The Fund is also available for non-government plans qualified under PR Code Section 1081.

Barry Kublin, BPAS CEO, credits the private-public partnership in Puerto Rico for the product development. According to Kublin, “40% of the portfolio is allocated amongst the FDIC-insured PR financial institutions in enhanced yield accounts, with the remainder invested in institutional money market and stable value investments.” He added that the Office of the Commissioner of Financial Institutions and Hacienda reviewed and approved the initiative in a thorough and timely manner. “The Pension Board and their consultants embraced a creative solution to the Act’s mandates. Having provided trust and plan administration services in PR for 20 years and given the breadth of our services, we are well positioned to deliver a complete solution to all PR retirement plan constituents,” he added.

About BPAS

BPAS is a national provider of retirement plans, benefit plans, fund administration, and collective investment trusts. We support 3,800 retirement plans, $86 billion in trust assets, $1 trillion in fund administration, and more than 450,000 participants. With our breadth of services, depth of creative talent, and financial resources, we are well positioned to help our clients solve all their benefit plan challenges without the need to engage multiple providers. One company. One call.

The BPAS family of services includes: Plan Administration & Recordkeeping, TPA, Actuarial & Pension, VEBA & HRA/HSA, Fiduciary, AutoRollovers & MyPlanLoan, Healthcare Consulting, Transfer Agency, Fund Administration, Custody, and Collective Investment Trusts.

Specialty practices include: Auto Enrollment Plans, Multiple Employer Trusts/Plans, Plans with Employer Securities, Puerto Rico Section 1081 Plans, VEBA HRA Plans, Cash Balance Plans, Collective Investment Trusts, and Fund Administration.

BPAS subsidiaries include: Hand Benefits & Trust, NRS Trust Product Administration, Global Trust Company, and BPAS Trust Company of Puerto Rico.

As a solutions-oriented national practice, we are committed to “Solving Tomorrow’s Benefit Challenges Today.” Visit bpas.com for more information.

Contact: Alfredo Matheu | President | BPAS Trust Company of Puerto Rico | 787-936-2251 | amatheu@bpas.com