BPAS Launches Updated Financial Planning Tool for Participants

The new version provides real-time updates to present a bigger picture of a participant’s overall financial health.

BPAS, a national provider of retirement plans, benefit plans, fund administration and collective investment trusts, has released version 2.0 of its Roadways Mile Marker financial planning tool for retirement plan participants.

The interactive Roadways Mile Marker 2.0—a key feature in the new BPAS Participant Portal introduced earlier this month—uses wizard technology with real-time updates and projections that go beyond retirement savings to present a bigger picture of each participant’s overall financial health.

The new Roadways Mile Marker allows advisers and corporate trustees to meet with participants and use the tool on demand as part of ongoing planning exercises. Both parties are able to control the inputs and assumptions to see how the participant is doing, identify gaps and set a strategy to close them.

“The new Roadways Mile Marker is unique, user-friendly, engaging and [makes it] easy to see results with just a few inputs so participants have time to take action to shape their financial journey through various life and career stages,” says Elizabeth Kaido, senior vice president of BPAS sales and relationship management.

“We knew we needed a tool that would paint a full picture of participants’ overall financial health,” says Paul Neveu, CEO of BPAS. “In developing the new Roadways Mile Marker, we focused on one key question: How can we create a tool that paints a reasonably accurate picture of financial health in a manageable about of time for the participant? It needed to look at compensation, savings rates, retirement plan balances, outside assets, home equity and total debt, so participants have time to take steps to shape the rest of their retirement journey.”

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