BPAS, a leading national provider of retirement plans, benefit plans, fund administration, and collective investment trusts and MP (MassPay), a provider of payroll, HR and wellness services, announced today they have successfully rolled out 360-degree integrated solutions for mutual plan sponsor clients Hrtech.
The integration solution automatically links and synchronizes information between the plan sponsor, recordkeeper/investment provider, and employees. It’s a fully automated way to save time, reduce data entry errors and protect data integrity without manual entries. Data is updated automatically between BPAS and MP whenever there is a change to one of the systems.
“Employers told us what they were looking for,” said Jason Maxwell, CEO of MP. “They want to select best-in-class solutions for plan administration and payroll services, not bundle them arbitrarily. And, they want to have the two firms work together seamlessly. That’s what we’re able to bring to the table with BPAS.”
Both MP and BPAS recognize the right of employers to manage their mix of service providers across employee benefit, payroll, and accounting services as they see fit. MP works with many different recordkeepers and BPAS works with many different payroll providers. The goal was to create an integration solution that would optimize the experience for mutual clients.
“Our model at BPAS is to put all clients on the freeway, meaning that we receive complete census data each payroll period, then perform a range of services on the client’s behalf to simplify their daily experience,” said Paul Neveu, President of BPAS Plan Administration & Recordkeeping Services. “It’s all predicated on receiving complete, accurate, and timely data. We’re thrilled about our partnership with MassPay. It will be a terrific resource for current and future clients seeking similar benefits – a high-touch service environment, minimized routine tasks, and maximum automation between the recordkeeper and payroll system.”
While MP has clients across the U.S., the firm has historically provided payroll services to a large number of employers in New England. Through advisor partnerships, MP and BPAS began working together in 2014. Mutual clients between the firms have been using the 180 solution until now. MP will be upgrading clients to the 360 solution in the coming months.
