Firms Offer Services for Trustees of Bankrupt Sponsors

BCG Bankruptcy Retirement Plan Services specializes in consultation and administration of retirement plans of bankrupt employers. In coordination with the Millenium Trust Company, the firms have created the “The Complete Solution,” which provides the following:     

• Assuming co-fiduciary status
• Preparing plan amendments and restatements
• Managing participants’ notifications, searches and distributions
• Establishing Individual Retirement Accounts (IRAs) that meet Safe Harbor requirements for missing participants
• Preparing government filings and tax reporting
• Correcting plan operational errors.

“Trustees can now rely on one vendor to meet all their critical needs in the termination and rollover services market,” said Beau Adams, Executive Vice President of Business Development at BCG. “Our relationship with Millennium Trust Company enables us to provide Trustees a turnkey solution that handles every aspect of the plan termination process.”