MyPlanLoan Administration Program

Under MyPlanLoan, BPAS removes much of the administrative burden associated with offering participant loans, freeing up resources in your Human Resources Department (loans are no longer repaid through payroll deduction). Participants make monthly payments to BPAS directly, which we track against the amortization schedule. This program can be used for new loan requests as well as the takeover of existing loans. 

The MyPlanLoan Administration Program effectively removes the Plan Sponsor from the ongoing, day-to-day maintenance of the retirement plan loan.