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Products October 13, 2020
BPAS Introduces PensionEase
The offering includes participant recordkeeping and compliance monitoring.
Reported by Lee Barney
BPAS Actuarial & Pension Services has launched PensionEase, a solution designed for defined benefit (DB) plans.
It is a full DB package that includes participant recordkeeping; compliance monitoring and participant required-event notifications; preparing and reviewing returned benefit packages; processing distributions; direct servicing through a fully staffed participant contact center; and easy, online access to plan materials and self-service benefit modeling.
“BPAS PensionEase combines actuarial benefit calculation services with the participant and benefit distribution services traditionally handled by a human resources [HR] department,” says Sarah Dam, senior vice president at BPAS. “With PensionEase, we’re able to take on the full administration burden so employers can focus on their business and not worry about the DB plan.”
Jason Disco, vice president of sales at BPAS, adds: “More and more employers are looking to outsource their DB plan administration. Historically, only very large pension plans could be outsourced. But BPAS PensionEase is a complete DB solution for companies of all sizes.”