Financial Services - 401k

The IMANA Retirement Services program is offered as a Multiple Employer Plan (MEP). By pooling the assets of multiple employers, and leveraging the efforts of a single Investment Review Committee, the MET provides for more efficient purchasing of assets, more efficient administration, and reduced liability for each participating employer. This gives small plans – even those with under $1 million in assets – access to no-load mutual funds and collective funds typically only available to much larger plans.

IMANA will have a role in the ongoing structure and support of the program. In exchange for this effort, the program partners agree to make contributions to IMANA to support ongoing philanthropic efforts. The entire arrangement will be fully disclosed in proposals to plan sponsors.

BPAS is highly unique in that it provides administration, mutual fund clearing and agent-to-trustee services under one roof (through the legal authority of sister company HB&T). Having a single firm as your provider ensures simplicity and accountability in service delivery.

In sharp contrast to many insurance-based programs, our program uses no variable annuities or separate account investments. This means that all fund prices match the newspaper and are “known quantity” investments. This ensures low overall costs with full disclosure of fees. It also ensures that your plan complies with the new 408(b)(2)fee disclosure regulations.

Unlike most competitors, we deliver comprehensive administration in lieu of “record keeping”. We receive a complete census file from clients each pay period covering all employees, as well as year-to-date hours and compensation. Receiving this complete data table allows us to simplify life for Human Resources in a variety of ways. We monitor and determine eligibility, scrub incoming files for a variety of edit checks, update vesting on a real-time basis, offer a dramatically simplified year-end testing process. This approach is music to the ears of HR professionals.