BPAS to Offer 408(b)(2) Data via Fiduciary Benchmarks

Recordkeeper BPAS has partnered with Fiduciary Benchmarks to provide 408(b)(2) summary disclosure documents and independent third-party benchmarking to all BPAS clients.

In addition, BPAS clients will have access to one document that contains all of the information needed to satisfy 408(b)(2), including a detailed definition of fees, services and fiduciary status as outlined by the regulation.

Barry Kublin, President of BPAS, said, “BPAS and our partners have long embraced the concept of fee transparency. We will use the FB service to help plan sponsors focus on the more significant metrics of successful plan operation and quality service.”