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2019

July 11, 2019

BPAS Expands Trust Services Team in Puerto Rico

Utica, NY (June 26, 2019) — BPAS, a leading national provider of retirement plans, benefit plans, fund administration, and collective investment trusts, is expanding its Puerto Rico service team. Effective July 1, 2019, Steven Graciani will join BPAS Trust Company of Puerto Rico as a Relationship Manager based in San Juan.

Graciani will service PR plan sponsors and financial advisors associated with the BPAS PR 1081 business. His role will focus on onboarding new plans, client and financial advisor training, plan audit support, and general client communication. Graciani has spent the past 15 years working with plan sponsors in PR. He has extensive experience with BPAS services and clients.

“We are excited to have Steven join the BPAS team,” said Alfredo Matheu, President of BPAS Trust Company of PR. “Through a strong combination of expertise in local regulations, PR Trust capacities, DC and DB services, and local staff, BPAS is uniquely positioned to assist plan sponsors with operations in PR.”

“For the past 20 years, BPAS has worked with numerous financial institutions and advisors to provide retirement plan services to the PR community. Our model of recordkeeping, actuarial, compliance, trustee and paying agent services under ‘one company, one call,’ provides for a compelling offering,” said Barry Kublin, BPAS CEO.

About BPAS
BPAS is a national provider of retirement plans, benefit plans, fund administration, and collective investment trusts. We support 3,800 retirement plans, including numerous multinationals, $77 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.

April 25, 2019

Hand Benefits & Trust Announces the Nottingham Advisors Collective Investment Funds

Houston, TX (April 25, 2019) — Hand Benefits & Trust (HB&T), a BPAS company announced today the launch of two new collective investment funds (CIFs) in collaboration with Nottingham Advisors. HB&T is a leading national provider of employee benefit trust services including Collective Investment Trusts (CITs).

The Nottingham Advisors ESG Global All Asset and ESG Global Balanced Funds are dedicated to environmental, social and governance strategies. They bring together best-in-class managers specializing in ESG investing through a highly diversified portfolio of mutual funds, exchange traded funds (ETFs) and individual bonds. With its global scope, these new CIFs can be a total portfolio solution for investors.

Created by the Hand Composite Employee Benefit Trust and sponsored by Hand Benefits & Trust, a BPAS company, the CIF will enable Nottingham to service a wide range of institutional investors, especially in the defined contribution market where plan sponsors are seeking compliant and more cost effective investment options.

“It’s broadly recognized that there’s a growing demand among 401k participants for ESG investment options. Our funds satisfy that demand in a way that’s simple for plan sponsors and advisors to implement; a single line-item solution,” said Nottingham Advisors Chief Investment Officer, Larry Whistler, CFA. “ESG investing has become increasingly popular as more people want to invest in ways that align with their values. There’s also growing evidence that companies ranked highly by ESG metrics can have higher returns on equity, lower risk factors, and lower volatility.”

“As trustee, administrator, and transfer agent, we are looking forward to working with the Nottingham Advisors team,” added Stephen Hand, HB&T President. “CIFs generally provide for lower expense ratios, flexibility with underlying securities, and simplified 404(a)(5) compliance, which will make it easier for Nottingham Advisor clients to achieve their retirement goals.”

The Nottingham Advisors ESG Global All Asset and ESG Global Balanced Funds CIFs launched on April 1, 2019 and will be accessible to eligible retirement plans through most recordkeeping platforms.

Following the creation of Nottingham’s ESG separately managed account (SMA) strategies in the second quarter of 2018, the firm has been focused on solutions for both the retail and institutional 401K markets — and has been increasingly embedding ESG analysis across its broader investment platforms.

NOTTINGHAM ESG GLOBAL ALL ASSET CIF R1 – 41023L761

NOTTINGHAM ESG GLOBAL BALANCED CIF R1- 41023L738

About Nottingham Advisors

Founded in 1981, Nottingham is an SEC registered investment advisory (RIA) firm headquartered in Buffalo, NY. Nottingham offers a risked-based suite of ESG collective funds that can serve as a comprehensive solution for financial professionals, institutions and retirement plans seeking strong risk-adjusted performance through investments that match their values. For more information about Nottingham’s offerings, visit www.nottinghamadvisors.com or call 716-633-3800.

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, $77 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.

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.

March 27, 2019

BPAS to Host 2019 Partner Conference in Boston

Utica, NY (March 27, 2019) — BPAS, a leading national provider of retirement plans, benefit plans, fund administration, and collective investment trusts, announced today that its 6th annual Partner Conference will take place June 3, 4, and 5, 2019 at the Hyatt Regency in Cambridge, MA. The conference is expected to draw more than 200 financial partners from across the nation.

Now in its 6th year, the conference provides a forum for financial partners and plan sponsors to participate in collaborative discussions on critical topics shaping the retirement and benefit plan industry. The premier event will head “Back to the Future,” to determine whether regulations that had been sidelined could be coming back with the changes in the political landscape.

“The mid-term elections and the electioneering for presidency have rekindled discussions on plan coverage, participation, and fiduciary issues, as well as the roles of the states and the federal government in our retirement plan system,” said Barry Kublin, BPAS CEO. “We’ll take a look at regulatory and legislative initiatives and discuss opportunities for advisors to deliver proactive solutions to stay ahead of the predictive mandates.  At BPAS, we’re committed to helping advisors strengthen their qualitative value propositions and deliver enhanced participant outcomes.”

Back by popular demand are speakers including Ralph Acampora’s Market Watch, Brad Campbell’s view on DOL and IRS initiatives, and Groom Law’s perspective on the regulatory sea. 2019 attendees will also enjoy perspectives from industry experts including: Nancy Melcher of MOR Strategy Partners for a look at the Art and Science of Optimizing Engagement, and Ryan Tiernan with advice on how HSAs can be profit centers.

“BPAS partners have a unique opportunity to network, learn, and collaborate in a casual, interactive setting,” added Paul Neveu, President of BPAS Plan Administration & Recordkeeping Services.  “Our speakers and panel discussions deliver key industry trends, best practices, regulatory information, and business development strategies. New and experienced BPAS partners will gain invaluable information, ideas, and inspiration to help grow their practices in an ever changing marketplace.”

New this year is an expanded track geared towards VEBA/HRA and HSA offerings. “We continue to see a convergence of traditional retirement income planning and retiree medical expense planning.  Collaboration on these benefit issues will serve our participant customers well,” added Kublin.

Platinum-level conference sponsors include: BlackRock, Federated, and PGIM. Gold sponsors include: American Funds and Fidelity.

To learn more about the 2019 BPAS Partner Conference and to register, visit partnerconference.bpas.com.

March 19, 2019

Treasury and IRS Notice 2019-18 Regarding DB Lump Sum Payments

Notice 2019-18:  Offering a Lump-Sum Payment Option to Retirees Currently Receiving Annuity Payments under a Defined Benefit Plan

The Department of the Treasury (Treasury Department) and the Internal Revenue Service (IRS) have issued Notice 2019-18, allowing plan sponsors of defined benefit plans to offer a lump-sum payment to retirees already in pay status in lieu of the remaining monthly payments due to those retirees.  This notice reverses the stance outlined in Notice 2015-49, which stated that the Treasury Department and IRS would be issuing amendments to regulations clarifying that offering a lump-sum or other accelerated payment to retirees already in pay status would conflict with the intention of Code Section 401(a)(9).

Notice 2019-18 Summary:

  • The Treasury Department and IRS “no longer intend” to amend the regulations to clarify that a lump-sum can not be offered to retirees in pay status.
  • The Treasury Department and IRS will continue to study this issue.
  • However, in the meantime, they will not consider a retiree lump-sum window as a violation.
  • Private letter rulings will not be issued on the topic.
  • For plan sponsors eligible for a determination letter, the IRS will not include a caveat regarding the topic of a lump-sum window offered to retirees.

View the full notice here.

Please reach out to your BPAS consultant with any questions regarding offering a lump-sum option to retirees currently in pay status.

March 13, 2019

Hand Benefits & Trust Launches New Collective Fund Series

Houston, TX (March 13, 2019) Hand Benefits & Trust (HB&T), a BPAS company announced today the launch of a new series of collective investment funds. HB&T is a leading national provider of employee benefit trust services including Collective Investment Trusts (CITs). The new series of funds, which will invest in BlackRock funds, consists of six passively-managed index strategies. They will launch as the least expensive index option available with no minimum investment. In addition, they will bring stronger benchmark tracking and institutional pricing to investors of all sizes, be available to qualified retirement plans, and trade on most major recordkeeping platforms.

Index Funds Benchmark CUSIP
HB&T BlackRock Large Cap Equity Index S&P 500 41026E251
HB&T BlackRock Mid Cap Equity Index S&P Mid Cap 400 41026E210
HB&T BlackRock Small Cap Equity Index Russell 2000 41026E244
HB&T BlackRock MSCI ACWI ex-US Index MSCI ACWI ex-US 41026E236
HB&T BlackRock U.S. Aggregate Bond Index BBgBarc US Aggregate Bond 41026E194
HB&T BlackRock Short Term Bond Indexz BBgBarc Govt/Credit 1-3 Yr 41026E228

“With this new series, all eligible plan sponsors and their participants can access best-in-class passively managed strategies,” said David Hand, HB&T CEO.

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, $77 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.
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.

March 01, 2019

BPAS Partners with American National Bank of Texas to deliver bundled fiduciary 401k services

Utica, NY (February 27, 2019) BPAS, a leading national provider of retirement plans, benefit plans, fund administration, and collective investment trusts, announced its partnership with American National Bank of Texas (ANBTX) Trust Division to service the YOUR kPlan® 401k platform.

ANBTX Trust Division has partnered with BPAS to provide bundled plan administration and recordkeeping services for the YOUR KPlan®, a Group Trust that enables small-to-large business owners to adopt a 401(k) and Profit Sharing retirement plan without the cost, complexity, and fiduciary responsibility associated with independent retirement plans. YOUR KPlan® allows employers to offer the benefits of large corporation retirement plans to themselves and employees but on a small business budget. ANBTX Trust and BPAS recommend YOUR kPlan® to plans $500,000 or greater in size. They also offer a separate platform for start-up plans.

“Partnering with ANBTX Trust delivers the best of both worlds to business owners in the North Texas region—the trusted relationship of ANBTX Trust, which understands the unique challenges of small and large businesses in the region, and the expertise of BPAS, which specializes in administering Group Trusts across the country,” said Paul Neveu, President, BPAS Plan Administration and Recordkeeping. “Delivering successful retirement plans through our partnership exemplifies our goal of helping participants achieve better outcomes and retire with dignity.”

“The American National Bank of Texas, Trust Division formed YOUR kPlan® eleven years ago. As a bank focused on businesses, we understand the unique needs of our business customers and employers to provide valuable benefits for themselves and their employees at an affordable cost,” said Kathy A. Howe, EVP and Director of Wealth Management & Trust, ANBTX.  “We also knew that through a group plan—using the economies of scale—we could bring employers together, reduce expenses, and provide large company benefits and positive results for employers and families. We are proud to be the only bank in North Texas offering this valuable service to our business customers. And we look forward to our partnership with BPAS to provide these valuable services.”

BPAS provides plans with a comprehensive plan administration services, a robust education model with Financial Wellness programs, MyPlanLoan continuation program, and the option to add the Roadways Health Savings Accounts (HSA).

About ANBTX

American National Bank of Texas (ANBTX), founded in 1875 in Terrell, Texas, is one of the oldest and largest independently-owned banks in the state. With assets of $3 billion, the bank has more than 28 locations throughout North Texas serving Collin, Dallas, Hunt, Johnson, Kaufman, Rockwall, Tarrant, and Van Zandt Counties. As a community bank, American National Bank of Texas offers traditional banking products and services to individuals, businesses, and municipal governments as well as individual and corporate trust, investment and estate planning services through their Wealth Management Group. ANBTX has consistently been ranked one of the Top 100 Places to Work by the Dallas Morning News. Visit American National Bank of Texas online at www.anbtx.com. Member FDIC.

February 15, 2019

Jensen Announces The Launch Of The Jensen Quality Growth CIF

Lake Oswego, OR. (February 14, 2019) – Jensen Investment Management, today announced the addition of a Collective Investment Fund (CIF) vehicle for exclusive use by eligible qualified retirement plan trusts.

The Jensen Quality Growth Collective Investment Fund seeks to provide qualified institutional investors with the Firm’s flagship Quality Growth Strategy with the lower shareholder servicing costs associated with a CIF. The Jensen Quality Growth Strategy is built on a commitment to investing in quality businesses that can weather all economic climates and aims to provide attractive returns while mitigating downside risk.

We believe that the launch of the Jensen Quality Growth CIF is the latest example of Jensen’s 30 year commitment to providing our clients with tailored solutions that meet their needs. This new vehicle will enable us to service a wide range of institutional investors, especially in the defined contribution market, where plan sponsors are seeking compliant and more cost effective investment options.

Jensen has developed and launched the CIF in collaboration with Hand Benefits & Trust, a BPAS Company. Hand Benefits & Trust, was founded in 1963 and acts as the sponsor and Trustee of The Jensen Quality Growth CIF. The new fund launched on February 1, 2019, and will be accessible to eligible retirement plans through most recordkeeping platforms.

About Jensen

Jensen Investment Management was founded in 1988 as an independent, employee-owned investment management firm. The firm manages two mutual funds, the Jensen Quality Growth Fund and the Jensen Quality Value Fund, as well as separate institutional and private accounts. Jensen’s total assets under management as of December 31, 2018 were $7.4 billion.

About the CIF

The Jensen Quality Growth CIF was created by the Hand Composite Employee Benefit Trust and sponsored by Hand Benefits & Trust Company, a BPAS company that invests in Jensen Investment Management, the sub- advisor to the CIFs. The CIFs are not a mutual fund. Their shares are not deposits of Hand Benefits & Trust Company or Jensen Investment Management, and are not insured by the Federal Deposit Insurance Corporation or any other agency. The CIFs are not securities that have been registered under the Securities Act of 1933 and are exempt from investment company registration under the Investment Company Act of 1940.

About Hand Benefits & Trust

Hand Benefits & Trust (HB&T), a BPAS company, is a chartered trust company providing institutional trust services including administration, valuation, and accounting for Collective Investment Funds. HB&T and its parent company, BPAS, are leaders in Collective Investment Trusts (CITs), partnering with over 50 investment firms to create more than 240 funds and 500 CUSIPs. BPAS supports 3,800 retirement plans, $77 billion in trust assets, $1 trillion in fund administration, and more than 450,000 participants. Visit bpas.com for more information.

To learn more about Jensen Investment Management, go to:  https://www.jenseninvestment.com/

January 24, 2019

Hewitt Joins HB&T CIF Sales

Houston, TX, January 23, 2019 — Hand Benefits & Trust (HB&T), a BPAS company, is pleased to announce the addition of Chris Hewitt as its Sales Consultant, Institutional Trust.  HB&T is a leading national provider of employee benefit trust services.

A winning combination

Hewitt will deliver the full suite of the HB&T Collective Investment Fund (CIF) solutions to Asset Managers, Retirement Plan Advisors and Record-keepers across the nation. 

Chris Hewitt

“We’re very pleased to have Chris join our team and look forward to extending HB&T CIF solutions to his plan advisor relationships,” said Stephen Hand, HB&T President. “Chris is already well established in the CIF community. His knowledge and reputation, coupled with our robust stable of world class asset manager sub advisors with long tenured track records will bring tremendous fee-transparency, flexibility, customization and another layer of fiduciary oversight to plan sponsors.” 

 

Collectives are built specifically for retirement plans and therefore have benefits above and beyond traditional 40-act funds. “CIFs generally provide for lower expense ratios, flexibility with underlying securities, and simplified 404(a)(5) compliance, which make it easier for clients to achieve their retirement goals,” added Hand. BPAS and its trust subsidiaries hold $77 billion in trust assets and have been administering CIFs since 1964.

Hewitt delivers a wealth of experience
Prior to joining HB&T, Hewitt held Defined Contribution Investment Only (DCIO) positions with PNC Capital Advisors, Emerald Advisors, and Sentinel Investments. He is an Accredited Investment Fiduciary (AIF) and earned his Bachelor of Arts degree from Drexel University.

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, $77 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.

January 17, 2019

BPAS Dedicates Lifetime Inspiration Recognition to Federated’s Eugene Maloney

BPAS announced today that it is honoring Eugene Maloney, Esquire. In recognition of Maloney’s accomplishments, BPAS is dedicating the conference and training room in its Pittsburgh office. The Eugene Maloney Training and Conference Center will feature a special plaque and tribute in Maloney’s honor.

As corporate counsel and Executive Vice President at Federated Investors since 1972, Maloney has been the leading authority on all matters of fiduciary prudence. He has been instrumental in helping partners and Trustees establish sound processes for managing assets and client relationships.

BPAS would like to thank Gene for the key role he played in working with our company in matters of trustee delegation and processes in a retirement plan setting,” said Paul Neveu, President of BPAS Plan Administration & Recordkeeping. Read the full news release here.

 

January 14, 2019

BPAS Names Ken Grant as EVP of Institutional Sales

Ken Grant, EVP

Utica, NY (January 14, 2019) — BPAS, a leading national provider of retirement plans, benefit plans, fund administration, and collective investment trusts, announced today that Kenneth G.Y. (Ken) Grant has been named Executive Vice President of Institutional Sales.

Ken will be responsible for further developing the distribution of Collective Investment Funds for Hand Benefits & Trust (HB&T), a BPAS company. He will also join the HB&T Board of Directors.

“Reporting directly to me, and operating out of our Boston office, Ken will work closely with the HB&T team in Houston where his relationships in the industry will be of tremendous benefit in the channels where HB&T operates,” said Barry Kublin, BPAS CEO. “Ken will focus on the creation of new funds and the marketing of existing CIFs.”

Ken joined NRS/GTC, a BPAS company, in 2003, where he most recently held the position of Executive Vice President (EVP) of Corporate Development. He has also served the Advisors Charitable Gift Fund since 2005, most recently as EVP, and the Savings Banks Employees Retirement Association since 2003, most recently as EVP.

“The BPAS family of trust companies is unique in the industry,” noted Ken. “Our companies offer a full range of collective and common trust funds, and specialized fiduciary products. I’m eager to work with the HB&T team to share the firm’s outstanding lineup and superior ease of use with new clients. Delivering this level of excellence is exciting.”

Ken holds a BA from Syracuse University, a Masters of Theology from Boston University, and an MBA from Clark University.

Ken can be reached at: P: 781 970-5017 | 866 401-5272, ext. 3809 | E: kgrant@bpas.com

About BPAS

BPAS is a national provider of retirement plans, benefit plans, fund administration, and collective investment trusts. We support 3,800 retirement plans, $77 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.