BPAS Firm Update

BPAS Firm Update and Conference Objectives Barry Kublin President, BPAS Partner Conference 2014 Partner Conference 2014 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 reexamining 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 Partner Conference 2014 BPAS Firm Update and Conference Objectives Conference Objectives Update on BPAS Firm Capabilities Strategies to compete in todays 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 Partner Conference 2014 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 Partner Conference 2014 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 Partner Conference 2014 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

Partner Conference 2014 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 Partner Conference 2014

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 Partner Conference 2014

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 Partner Conference 2014 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 Partner Conference 2014 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 Partner Conference 2014 BPAS Firm Update 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

Partner Conference 2014 The BPAS Organization BPAS (Inc.) BPAs, LLC Daily Val. Plans IRA VEBA/HRA MPL HB&T Co. Hand Securities (Broker Dealer)

BPAS Fiduciary Services CIF Admin Daily Val. Custody HCG, LLC Actuarial Services H&W Consulting Non Daily Val DC BPAS Trust Co.

of PR Directed Trustee for Puerto Rico Plans Partner Conference 2014 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 Partner Conference 2014 Business Opportunities Beyond 401k/ 403(b)

Cash Balance Plans VEBA/HRA Holistic Financial Planning Capturing IRA Rollovers Partner Conference 2014 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 Partner Conference 2014 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 Partner Conference 2014 Advocacy BPAS Appeal to Get Involved ASPPA American Society of Pension Professionals and Actuaries NAPA National Association of Pension Advisors http://savemy401k.com/ PAC

Partner Conference 2014 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 Partner Conference 2014 Questions?

20 Partner Conference 2014 Contact Barry Kublin President BPAS [email protected] 21

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