Plan Sponsors

The BPAS Advantage for Plan Sponsors

BPAS AutoRollovers is a no-hassle IRA for former participants who are subject to a mandatory distribution. A no-cost, streamlined account set-up process saves time and money. Plus, the entire distribution process is fully automated for plans on the BPAS platform.

AutoRollovers offers several benefits:

  • We provide a distribution package to terminated participants who will be subject to mandatory distribution.
  • After 60 days, we perform an AutoRollover to an IRA product for any participant who didn’t elect a distribution.
  • Participants receive a Welcome Letter providing them with information on accessing and taking advantage of their new IRA account.
  • No fees for the plan sponsor.
  • Works with all platforms.
  • Online IRA reporting, monitoring, and 24/7 account access.
  • Simplified plan sponsor agreement.
  • Eliminates future disclosure requirements for distributed accounts.
  • Safe-Harbor compliant.

Designed For

AutoRollovers makes it easy for plan sponsors to manage mandatory distributions. Choosing AutoRollovers helps:

  • Delay requirements to filing as a large plan.
  • Accelerate access to forfeiture dollars.
  • Avoid tedious required disclosures to terminated participants with smaller balances.
  • Minimize the likelihood of having “missing participants” in the case of plan termination.
  • Reduce administrative costs based on the number of participants, including PBGC premiums.