The MyPlanLoan team is dedicated to serving recordkeepers and TPAs as well as their plan sponsors and participants, to administer an effective loan solution for all participants, whether active or terminated, and helps mitigate the risk of default.
There is no doubt that the administration of loans within retirement plans can be very complex. Our industry experience and extensive knowledge of ERISA rules provide the assurance that loans are being administered appropriately. Because the regulations affecting retirement plans are constantly changing, our continual monitoring ensures that loans within the MyPlanLoan program are in compliance. Our focus is on educating all parties involved so that loans are taken in a prudent and responsible manner. By placing your trust in MyPlanLoan, you are partnering with a proven and effective provider.
BPAS, a subsidiary of Community Bank System, Inc. (NYSE: CBU) is a national provider of actuarial, administration and institutional trust services. BPAS has offered traditional loan administration services since the mid 1970s and alternative loan administration solutions since 2003. Through our AutoRollovers (EGTRRA distributions) and MyPlanLoan services, BPAS supports over 150 recordkeepers and TPAs throughout the U.S. and P.R.
MyPlanLoan is an innovative solution for loan administration available for both terminated and active participants. Our multi-pronged approach gives recordkeepers and plan sponsors a viable solution for virtually any situation.