News & Events
BPAS Launches Next Generation HSA
BPAS, a leading national provider of retirement plan and fund administration, transfer agency, collective investment fund, and other institutional trust services, is pleased to announce the release of our next generation BPAS Health Savings Account offering. This proprietary build off of our nationally recognized daily valuation recordkeeping platform is ideally suited for BPAS’ 401(k)/403(b) clients. With single sign on, an open architecture investment platform that mirrors the plan sponsors’ DC plan offerings, combined statements, and integrated online and onsite participant education, the BPAS HSA serves the participant spenders and investors alike. There are no requirements for low-yielding money market or bank deposit balances. Participants invest first dollar and choose from an array of investments selected by the advisor, and they have debit card access to their account.
We have leveraged our retirement outsourcing service to provide for HSA online enrollment, contribution rate changes, utilization reports, and targeted messaging, making it easy for our plan sponsors to adopt. We believe the industry is ready for fee transparency, a fiduciary level of service, multi-disciplinary financial literacy, and benefit administration outsourcing.
“The cost of retiree medical is overwhelming, and many participants who have successfully saved in their 401k/403(b) are ill-prepared for the costs of Medicare and other medical expenses.” Barry Kublin CEO, BPAS, states. “The unique tax benefits of HSAs effectively complement traditional retirement savings, and we believe such guidance is more effectively delivered by financial advisors.”
For more information about the BPAS HSA, please contact Karni Adamson at 206-937-1124 or KAdamson@bpas.com.
BPAS Sister Company Ranked Third in Nation by Forbes
Please join us in congratulating our sister company, Community Bank, N.A., on its ranking as one of the top 3 Best Banks in America by Forbes.
In determining the best banks, Forbes measures 10 key metrics on growth, asset quality, capital adequacy, and profitability. The bank jumped five spots from its eighth-place ranking in 2016 to third for 2017.To read the full press release from Community Bank, click here. To read the full article from Forbes, click here.
At BPAS, we are honored to be a part of the Community Bank family. Community Bank System, Inc. (CBSI) operates more than 200 customer facilities across Upstate New York and Northeastern Pennsylvania through its banking subsidiary, Community Bank, N.A. With assets of approximately $8.7 billion, the DeWitt, New York-headquartered Company is among the country’s 150 largest financial institutions. In addition to a full range of retail and business banking services, the Company offers comprehensive financial planning, insurance and wealth management services. Community Bank System, Inc. is listed on the New York Stock Exchange and the Company’s stock trades under the symbol “CBU.”
BPAS is a national provider of retirement plan and fund administration, transfer agency, collective investment fun, and other institutional trust services. We support 3,800 retirement plans, $52 billion in trust assets, $1 trillion in fund administration, and more than 400,000 participants. With our breadth of services, 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. Visit bpas.com for more details.
November 2-4: PA Bankers, Hershey, PA
October 22-25: ASPPA Annual, National Harbor, MD
September 6-8: Sungard Advanced Pension, Chicago, IL
July 9-12: Western Benefits Conference by ASPPA, Anaheim, CA
June 5-7: BPAS Partner Conference, Philadelphia, PA
May 21-24: NIPA Annual Forum and Expo, Las Vegas, NV