UTICA, N.Y., June 6, 2022 /PRNewswire/ -- BPAS, a leading national provider of retirement plans, benefit plans, fund administration, and collective investment trusts has earned top spots among the National Association of Plan Advisors (NAPA) Advisors' Choice Awards in nearly all categories in the under $10 million space.
According to the NAPA announcement, "The Advisors' Choice awards are a means for committed retirement plan advisors to acknowledge best-in-class recordkeepers in a dozen different categories in the target market(s) they service." The announcement also noted, "Advisors are, of course, extraordinarily well positioned to compare and evaluate the strengths (and weaknesses) of this critical service – as they see and experience first-hand the features, flexibility, and support that organizations provide across a wide variety of circumstances."
Advisors placed BPAS in the Top 5 Recordkeepers in 12 out of 13 categories for both Small Plans ($1 million to $10 million in assets) and Micro Plans (less than $1 million in assets). The categories include:
Plan Sponsor Website
"We work hard on the full range of issues every day at BPAS, so hearing this news is music to our ears," said Paul Neveu, BPAS CEO. "Our mission is to deliver first-rate service, expertise, and accountability with reasonable fees. We engage in honest introspection at BPAS. We identify things we can do better, then get after them one at a time – seeking to constantly improve our value proposition. To be recognized this way―in what is essentially a national, blind-reference check―is extremely gratifying. We're already getting calls from new Advisors and Trust companies since the results were published."
While BPAS earned top honors in the micro and small markets, the firm handles the full range of plan sizes and types, from start-up to $500 million in assets, and from 1 to more than 15,000 participants (counting both Defined Contribution and Defined Benefit expertise). "We use the same proven administrative model for all DC plans, so we get a lot of calls when a plan is large and complex and other recordkeepers have punted," added Neveu. "Whether it's company stock, unitization, frozen asset, a pooled plan alternative, or something unusual in type or design, we like a good challenge."
"I think advisors are seeing BPAS as a complete solution that delivers on all fronts," said Vince Spina, President of BPAS Actuarial & Pension Services. "We work with plan sponsors of 401(k), 403(b), and Defined Benefit plans and their financial advisors to customize solutions that are best for them. The rules that apply to the $1 billion Defined Benefit plan also allow a sole proprietor or small business-owner to supplement their 401(k) Plan with additional tax-deferred savings by establishing their own Defined Benefit plan. We work together inside BPAS to provide a seamless experience for sponsors and participants."
BPAS offers a range of services that simplifies the complicated nature of retirement and benefit plans without the need to engage multiple providers. Its service model of comprehensive administration, combined with full fee transparency and conflict-free open architecture investments, provides the support, versatility, and experience clients can depend on. All BPAS clients have a dedicated fully credentialed plan consultant, regardless of plan size. Of particular note, BPAS clients report a 45% time saving with BPAS over previous administrators operating in a recordkeeping paradigm.
"Flexibility, depth of expertise, and consulting are things we really focus on at BPAS," added Maryann Geary, President of BPAS Plan Administration & Recordkeeping. "We reflect on something every day: there is no law that requires anyone to work with BPAS. We want our reputation to be one of expertise, great people, and accountability. It's reassuring to know that partners see us as trustworthy people they can build a business around. But, we won't let it get to our heads; we'll keep working every day."
The BPAS team believes that none of this success has happened by accident. It's the result of hard work, a strong work ethic among its employees, and a commitment to empowering employees to work out issues in a friendly, collaborative way. "That's how we roll at BPAS," added Neveu. "It's what defines us. It's what makes us special."
BPAS is a national provider of retirement plans, benefit plans, fund administration, and institutional trust services. We make it our mission to simplify the complicated by delivering benefit-plan services that solve client challenges without the need to engage multiple providers. One company. One call. We support 4,200 retirement plans, $110 billion in trust assets, $1.3 trillion in fund administration, and more than 510,000 participants.
The BPAS family of services includes: Workplace Retirement Plans, Actuarial & Pension, Healthcare Consulting, IRA, VEBA HRA, Health & Welfare Plans, Fiduciary, Collective Investment Funds, Fund Administration, and Institutional Trust.
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: 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.
Paul Neveu | CEO | BPAS
315-292-6900 | email@example.com
SOURCE BPAS Inc