BPAS Partners With American National Bank of Texas on Fiduciary 401k Services
UTICA, NY, February 28, 2019 -- BPAS, a leading national provider of retirement plans, benefit plans, fund administration, and collective investment trusts, announced its partnership with American National Bank of Texas (ANBTX) Trust Division to service the YOUR kPlan® 401k platform.
ANBTX Trust Division has partnered with BPAS to provide bundled plan administration and recordkeeping services for the YOUR KPlan®, a Group Trust that enables small-to-large business owners to adopt a 401k and Profit Sharing retirement plan without the cost, complexity, and fiduciary responsibility associated with independent retirement plans. YOUR KPlan® allows employers to offer the benefits of large corporation retirement plans to themselves and employees but on a small business budget. ANBTX Trust and BPAS recommend YOUR kPlan® to plans $500,000 or greater in size. They also offer a separate platform for start-up plans.
"Partnering with ANBTX Trust delivers the best of both worlds to business owners in the North Texas region: the trusted relationship of ANBTX Trust, which understands the unique challenges of small and large businesses in the region, and the expertise of BPAS, which specializes in administering Group Trusts across the country," said Paul Neveu, President, BPAS Plan Administration and Recordkeeping. "Delivering successful retirement plans through our partnership exemplifies our goal of helping participants achieve better outcomes and retire with dignity."
"The American National Bank of Texas, Trust Division formed YOUR kPlan® eleven years ago. As a bank focused on businesses, we understand the unique needs of our business customers and employers to provide valuable benefits for themselves and their employees at an affordable cost," said Kathy A. Howe, EVP and Director of Wealth Management & Trust, ANBTX. "We also knew that through a group plan, using the economies of scale, we could bring employers together, reduce expenses, and provide large company benefits and positive results for employers and families. We are proud to be the only bank in North Texas offering this valuable service to our business customers. And we look forward to our partnership with BPAS to provide these valuable services."
BPAS provides plans with a comprehensive plan administration services, a robust education model with Financial Wellness programs, MyPlanLoan continuation program, and the option to add the Roadways Health Savings Accounts (HSA).
American National Bank of Texas (ANBTX), founded in 1875 in Terrell, Texas, is one of the oldest and largest independently-owned banks in the state. With assets of $3 billion, the bank has more than 28 locations throughout North Texas serving Collin, Dallas, Hunt, Johnson, Kaufman, Rockwall, Tarrant, and Van Zandt Counties. As a community bank, American National Bank of Texas offers traditional banking products and services to individuals, businesses, and municipal governments as well as individual and corporate trust, investment and estate planning services through their Wealth Management Group. ANBTX has consistently been ranked one of the Top 100 Places to Work by the Dallas Morning News. Visit American National Bank of Texas online at www.anbtx.com. Member FDIC.
BPAS is a national provider of retirement plans, benefit plans, fund administration, and collective investment trusts. We support 3,800 retirement plans, $77 billion in trust assets, $1 trillion in fund administration, and more than 450,000 participants. With our breadth of services, depth of creative talent, and financial resources, we are well positioned to help our clients solve all their benefit plan challenges without the need to engage multiple providers. One company. One call.
The BPAS family of services includes: Plan Administration & Recordkeeping, TPA, Actuarial & Pension, VEBA & HRA/HSA, Fiduciary, AutoRollovers & MyPlanLoan, Healthcare Consulting, Transfer Agency, Fund Administration, Custody, and Collective Investment Trusts.
Specialty practices include: Auto Enrollment Plans, Multiple Employer Trusts/Plans, Plans with Employer Securities, Puerto Rico Section 1081 Plans, VEBA HRA Plans, Cash Balance Plans, Collective Investment Trusts, and Fund Administration.
BPAS subsidiaries include: Hand Benefits & Trust, NRS Trust Product Administration, Global Trust Company, and BPAS Trust Company of Puerto Rico.
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