Retirement and benefits administration service provider BPAS announced that its AutoRollovers service has joined with the SS&C Technologies’ Automatic Rollover Program (ARP) to enhance retirement plan servicing.
The collaboration between BPAS AutoRollovers and SS&C's ARP aims to simplify and streamline the administration of mandatory rollovers at the plan level, providing an efficient and user-friendly solution, according to the announcement.
SS&C’s platform is designed to address the servicing needs of third-party administrators (TPAs), recordkeepers, advisory firms and plan sponsors by simplifying the administration of mandatory rollovers at the plan level. The rollover servicing platform provides streamlined processing by automating the exchange of participant data. This enables easy access to certain IRA providers and options, automated IRA account opening, administration of plan enrollment and reporting on fund activity.
BPAS AutoRollovers, meanwhile, provides a comprehensive, one-stop IRA solution designed for terminated participants facing mandatory distributions from their retirement accounts. The service simplifies the management of mandatory distributions for plan sponsors, with the added benefit of a fully automated distribution process for plans utilizing the BPAS platform.
BPAS is a national provider of retirement plans, benefit plans, fund administration, and collective investment trusts, supporting 4,500 retirement plans, $110 billion in trust assets, $1 trillion in fund administration, and more than 620,000 participants.
The BPAS family of services includes Workplace Retirement Plans, Actuarial & Pension, Health Benefit Consulting, IRA, VEBA HRA, Health & Welfare Plans, Fiduciary, Collective Investment Funds, Fund Administration, and Institutional Trust.
SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, CT, and has offices around the world. Some 20,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.
