Home/Financial Professionals/Partners/Products & Services/IRA Services
The BPAS Advantage

The BPAS Advantage

As a recognized leader in retirement plan administration, BPAS has provided retail IRA services and statutory IRA rollovers for more than 20 years. BPAS IRA Services provide the same administrative benefits as our employer-sponsored plans, customer service support, and 24/7 web and VRU access. Learn more about our suite of IRA services:

IRASelect

IRASelect is an easy-to-use bundled IRA Solution that helps customers prepare for a financially secure retirement. BPAS partners with financial advisors and trustees to offer a low-cost IRA solution that helps advisors and trustees:

  • Eliminates costly per account charges associated with most popular trust accounting systems.
  • Allows you to set your own investment advisory fee.
  • Supports your asset allocation models.
  • Helps you focus on selling new business and servicing existing relationships.
  • Provides BPAS administrative services, including customer service, recordkeeping, statements, tax reporting, and disclosures.

You Learn more at IRASelect.com.

AutoRollovers

BPAS AutoRollovers is a no-hassle IRA for terminated participants subject to a mandatory distribution from their retirement account. AutoRollovers makes it easy for plan sponsors to manage mandatory distributions. Plus the entire distribution process is fully automated for plans on the BPAS platform. It’s a one-stop solution that saves time and money:

  • Fully compliant with Safe Harbor
  • Works with all platforms
  • Online reporting, monitoring, and 24/7 access
  • Keeps small plans small, avoids annual audit
  • Sponsors have quicker access to forfeitures
  • No AutoRollover fees for TPA or plan sponsor
  • Avoid tedious required disclosures to terminated participants with smaller balances.

How it works:

  • BPAS provides a distribution package to terminated participants subject to mandatory distribution.
  • After 60 days, we perform an automatic rollover to an IRA product for any participant who didn’t elect a distribution option.
  • Participants receive a welcome letter providing them with information to access and take advantage of their new IRA account.
  • A tiered monthly IRA fee charged to participants
  • $18/year participant fee for search services on dormant/unclaimed accounts
  • New stream of income for financial partners on accounts greater than $200

Want to add AutoRollovers to your retirement plan? Learn more at  AutoRollovers.com or download the AutoRollovers brochure (PDF). Contact your BPAS representative to add AutoRollovers to your plan.