1. BPAS Firm Update and Conference Objectives
Barry Kublin
President, BPAS

2. BPAS Firm Update and Conference Objectives
Welcome, BPAS Partners Conference
Thank You!
YOU – for partnering with us to provide retirement plan services to our mutual clients
YOU – for joining us in a 3-day learning experience to improve our businesses and the effectiveness of the services we provide
YOU – for engaging in a critical discussion of our industry and re-examining how we might partner to improve the retirement income readiness of working households
Guest speakers, for sharing your knowledge
BPAS Marketing staff, for a first-class effort

3. BPAS Firm Update and Conference Objectives
Update on BPAS Firm Capabilities
Strategies to compete in today’s 401k/403(b) marketplace
Business opportunities beyond the traditional 401k/403(b) marketplace
Regulatory updates
Contemporary Investment Management Issues
Interactive sessions to discuss best practices among Partners

4. BPAS Firm Profile BPAS was founded in 1973 (41 years old)
If you knew of us, you might not know us today!
9 offices (3 Upstate NY, NYC, NJ, Phil, Pitt, Houston, San Juan)
240 professionals
3,600 clients
350,000 participants
$16 billion assets under custody

5. BPAS Firm Profile Advanced DC Plan Administration
ESOP, KSOP
401(k), 403(b), 457 municipal
457, 409A non-qualified
Taft-Hartley, Prevailing Wage
MEP, MET
1081 (Puerto Rico)
Defined Benefit Plans
Mid-market traditional and cash balance
Small-market cash balance

6. BPAS Firm Profile VEBA/HRA
Voluntary Employee Beneficiary Association/ Health Reimbursement Accounts
Funded post-retirement medical benefits
Taft-Hartley (IBEW, USWA)
Public Sector (Northwest Firefighters Association)
UAW VEBA is the largest direct holder of GM stock (8.8%)
Health and Welfare Benefits
Actuarial valuation of post-retirement benefits other than pensions, ASC715, GASB45

7. BPAS Firm Profile IRA EGTRRA Rollovers
$5k cash-outs from DC AND DB plans
Significant savings in DB related to admin and PBGC expenses
Orphan plan accounts (Dewey)
Voluntary Rollovers
Platform for Advisors for BPAS participant clients

8. BPAS Firm Profile MyPlanLoan Administration
Non-payroll deduct loan administration for terminated participants or active participants where payroll deduction is not available
Reduce leakage amongst participants who avail themselves of a 72p transaction that is offered in a prudent manner

9. BPAS Firm Profile Employee Benefit Trust Services ($16 billion)
Collective Investment Funds
Unitization of managed accounts for use in multiple plans
Transfer Agent, 3(38) status
CIFs are available on all major trading platforms

10. BPAS Firm Profile BPAS Trust Company of Puerto Rico
Directed trustee for PR 1081 plans
Participant directed DC
Keogh (smaller P/S and MP plans
Mid-market DB plans
Small cash balance plans
Market Leadership
PR CPA society (CEU, Master Trust)
PBGC, Mendez

11. BPAS Firm Profile BPAS Fiduciary Services
3(38) services to participant-direct DC plans sold and serviced by registered representatives and directed trustees, neither of whom provide a potentially desirable service for the plan sponsor
3(38) services to cash-balance plans sold by individuals/institutions that cannot provide discretionary investment management services
Under this model, BPAS Partners provide sales, relationship management, participant education and plan consulting services and receive 12(b)(1) or bp fee income

12. Community Bank System, Inc.
BPAS Firm Update
Community Bank System, Inc.
BPAS
Community Bank, NA
CBSI/CBNA ranked as 4th best bank amongst top 100 publics in U.S. by Forbes in 2014
CBNA, is a regional bank with $7.4 B in assets and 190 facilities in Upstate, NY and NE, PA
BPAS is an autonomous business unit and a material segment of CBSI, operating as a national practice

13. BPAS Fiduciary Services
The BPAS Organization
BPAS (Inc.)
BPAs, LLC
Daily Val. Plans
IRA
VEBA/HRA
MPL
HB&T Co.
Hand Securities
(Broker Dealer)
CIF Admin
Daily Val. Custody
BPAS Fiduciary Services
HCG, LLC
Actuarial Services
H&W Consulting
Non Daily Val DC
BPAS Trust Co.
of PR
Directed Trustee
for Puerto Rico Plans

14. Strategies to Compete Defining Value in a crowded DC Provider Space
Measuring plan level success
Marketing the message
Managing a profitable practice under 408(b)(2)
Reducing Plan Leakage
Retaining assets in the Plan
Increasing Plan Participation and Savings Rates

15. Business Opportunities Beyond 401k/403(b)
Cash Balance Plans
VEBA/HRA
Holistic Financial Planning
Capturing IRA Rollovers

16. Regulatory Updates 408(b)(2) v2 Expanded definition of fiduciary
State initiatives, which potentially compete with private sector offerings, intended to increase coverage
Municipal bankruptcies and retirement benefits
Act 40 Funds, CIFs and fiduciary liability

17. Contemporary Investment Management Issues
Stable Value Offerings
QDIA
Target
Risk-based
Participant Education
Retirement Income Products
Guaranteed income products
Longevity Risk products
Installment payment arrangements

18. Advocacy BPAS Appeal to Get Involved ASPPA NAPA http://savemy401k.com/
American Society of Pension Professionals and Actuaries
NAPA
National Association of Pension Advisors
PAC

19. Conclusion and Beginning
Thank you for attending
We look forward to your feedback and opportunities for program improvement
We look forward to the continued success and growth of our partnership

20. Questions?

21. Contact
Barry Kublin
President
BPAS