BPAS Hires Sales Relationship Manager in Minn.

BPAS, a national provider of administration, clearing, and custodial services, announced an addition to its sales team based in the Midwest.

Effective October 1, Suzan Huckaby has joined BPAS. Based in the Minneapolis/St. Paul area,  Huckaby will serve as a sales relationship manager in the firm’s Bank Trust channel, which currently includes more than 75 trustee partners nationwide, according to the company. She will also work with registered investment advisers and other firms committed to the retirement plan space.

Huckaby has previously held positions with Anchor Trust and US Bank working with retirement plans.

“The addition of Suzan accomplishes two key goals. First, it gives BPAS a strong foothold in the Midwest, an important region where we currently have several dozen financial intermediary partners. Second, Ms. Huckaby’s experience as a Trustee and Fiduciary will immediately resonate with our trustee and adviser partners; she will play a hands-on role to help partners build their retirement business every step of the way,” said Paul Neveu, senior vice president of Sales and Marketing for the firm.

Employees Kept Hands off 401(k) in Downturn

Despite the ongoing economic turmoil, a poll taken for National Payroll Week found that the majority of those polled have not disturbed their 401(k) deferrals since September 2008.

The American Payroll Association survey found that 60.9% of respondents did not make 401(k) deferral changes since September 2008, while 19.4% cut back their savings and 19.3% boosted their deferrals.

Of those boosting their savings, 85% raised their deferrals by 5% or less, while another 11.2% increased it between 6% and 10%. Of those lowering their deferrals, 82.3% dropped the figure by 5% or below and 11.5% between 6% and 10%.

The poll found deferrals of 11% to 15% (8.5%), 6% to 10% (39%), and 1% to 5% (47%). Among respondents whose employers offer a 401(K) or other defined contribution plan, 81.8% participate.

Sixty-eight percent of respondents’ employers offer a 401(k) (or other DC plan) and 25% offer a defined benefit program.

The “Getting Paid In America” survey polled nearly 40,000. The results are available here.

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