Subscribe (Free) to
Daily or Weekly Newsletters
Post a Job

Featured Jobs

Trust Accounting/5500 Specialist

Sentinel Benefits & Financial Group
(Remote / Wakefield MA)

Sentinel Benefits & Financial Group logo

Retirement Plan Administrator

Nicholas Pension Consultants
(Remote / Rancho Cordova CA / Corona CA)

Nicholas Pension Consultants logo

Retirement Plan Account Manager

Aegis Retirement Partners, LLC
(Remote / CT / MA / NH / RI)

Aegis Retirement Partners, LLC logo

Retirement Plan Administrator


ForUsAll logo

Retirement Plan Administrator

Fulton Bank / Fulton Financial Advisors

Fulton Bank / Fulton Financial Advisors logo

Retirement Plan Administrator

Retirement Solutions Specialists, LLC

Retirement Solutions Specialists, LLC logo

Plan Administration Manager

Southern Pension Services
(Remote / Tampa FL)

Southern Pension Services logo

Pension Administrator

Actuaries Unlimited, Inc.
(Remote / Los Angeles CA)

Actuaries Unlimited, Inc. logo

Pension Administrator

American Pension, LLC
(Berkeley Heights NJ)

American Pension, LLC logo

Retirement Plan Administrator

Prime Pensions Northwest, LLC

Prime Pensions Northwest, LLC logo

Member Services Supervisor

DC Retirement Board
(Remote / Washington DC)

DC Retirement Board logo

Pension Plan Administrator

DeMars Pension Consulting Services, Inc.
(Overland Park KS / MO / NE / OK)

Retirement Operations Specialist

Fringe Benefit Group

Fringe Benefit Group logo

Product Support Specialist - Conversions part of Wolters Kluwer Legal & Regulatory
(Remote) part of Wolters Kluwer Legal & Regulatory logo

Manager, Client Relationship Management

Guideline, Inc.
(Remote / Solana Beach CA)

Guideline, Inc. logo

Customer Success Associate

Guideline, Inc.
(Remote / Austin TX / Solana Beach CA / Portland ME / San Mateo CA / CO / FL / GA)

Guideline, Inc. logo

DB/DC Administrator

Primark Benefits
(Remote / San Mateo CA)

Primark Benefits logo

View More Employee Benefits Jobs

Free Newsletters

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Mobile App image LinkedIn icon
Twitter icon
Facebook icon

Press Releases by Date   |   Press Releases by Company Name

View More Press Releases by BPAS

Press Release

F&M Trust Consolidates Retirement Business With BPAS

Issued by BPAS

Aug. 8, 2019

PHILADELPHIA, PA, August 7, 2019 -- BPAS, a leading national provider of retirement plans, benefit plans, fund administration, and collective investment trusts, has been selected by F&M Trust as the strategic partner for its retirement plan business across southern Pennsylvania.

BPAS began working with F&M Trust in 2007 on various retirement plan opportunities, providing recordkeeping, administration, and trading/custody services to bank clients. F&M Trust began to see differences among platforms and started getting requests for a higher level of plan consulting and HR outsourcing capabilities. This change led many clients to migrate to the F&M Trust/BPAS partnership.

In 2018, F&M Trust issued an RFP for its own corporate Defined Contribution (DC) and Defined Benefit (DB) plans. After reviewing several firms and alternatives, F&M Trust made the decision to consolidate these plans with BPAS. The DC plan converted to BPAS as of 1/1/2019; the DB plan is transitioning for a 1/1/2020 effective date. Combined, these plans have more than $50 million in assets and 600 participants.

"BPAS has been wonderful to work with as bundled recordkeeper for our 401k plan. They have provided great value to us as an administrative partner. When we were considering them as a potential partner to provide actuarial services for our Pension Plan, it was a no-brainer," said Dr. Karen Carmack, Senior Vice President and Chief Human Resources Officer at F&M Trust. "The expertise they have in this area provided us with great comfort that they would be also able to handle the complexity of our Pension plan with ease. It will be nice to have all services relating to our retirement plans under one roof. This factor was significant in our decision-making process to move to BPAS."

"Having worked with BPAS for many years, we kicked the tires thoroughly," said Ronald Froeschle, Director of Retirement Plans at F&M Trust. "We felt good transitioning our DC and DB plans because of our overall comfort level with the BPAS people, expertise, and flexibility. We are excited to enhance our retirement plans through this partnership and consolidate the rest of our client plans as well."

When all client plans are converted, the F&M Trust/BPAS partnership will serve approximately 50 qualified plans.

According to Paul Neveu, President of BPAS Plan Administration & Recordkeeping Services, "The focus of corporate trustees has shifted over the last decade. There has always been a focus on investments and fiduciary processes, but now we see more emphasis on outcomes, working with participants and retirement plan committees to drive key success measures for each plan. Our partnership with F&M Trust is a great example of this. We appreciate the expertise and commitment that F&M Trust brings to client relationships, as well as their open dialogue and constant evaluation of the plan sponsor and participant experience. We look forward to growing our partnership in the coming years as an extension to the range of banking and investment services that F&M Trust brings to the marketplace."

"One of the things F&M Trust clients have talked about is the vertically integrated structure of BPAS, under which we serve as recordkeeper, TPA, clearing firm, and asset custodian, all under one roof," added Joe Boyle, BPAS Regional Sales Director. "Clients like simplicity and accountability. F&M Trust clients have been looking for 3(16) services to take administration and communication work off their desk. Just about every HR team we talk to is tight on resources these days, so it has been a popular feature."

Other services of the F&M Trust /BPAS partnership that have been popular with clients include full online enrollment, automatic enrollment, the MyPlanLoan(tm) loan continuation program, and the Roadways Health Savings Account (HSA) which can be paired with any 401k or 403b program. F&M Trust works with clients to help them determine which plan design and set of administrative features will best meet their needs.

View More Press Releases by BPAS

Editor's note: This press release has been issued by the company named above, not BenefitsLink. Reliance on information in this press release might be prudent only after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by BenefitsLink.

© 2022, Inc.