A news release said BPA-Harbridge will calculate eligibility and entry dates and send the required participant notices that will include information on default contribution rates, timing and amounts of scheduled increases, targeted savings rates and default investments.
Participants may adjust the default settings or opt out of the program using BPAH’s Web and voice response systems, according to the announcement.
Using BPA-Harbridge’s online functionality, participants may also commit to scheduled increases and a targeted savings rate on a voluntary basis in plans that do not provide for default settings.
According to the company, BPA-Harbridge handles the collection of all salary deferral savings agreements on its automated systems and reports all requested changes back to employers at the appropriate time. Payroll
departments can download a file of deferral rate changes from BPAH’s sponsor Web portal.
For more information visit www.bpah.com/freedomor call 1-866-401-5272.