Defined Contribution Plan Loan, DC Plan Loan, 401k Loan, Borrow from 401k, 456 Plan Loan, 403b loan, 401k recordkeepers

TRUSTIVO announces the addition of Access Control Advantage (ACA) to Secure Social Retirement Network

luke — Fri, 31 Aug 2012 15:43:12 +0000

Boston, MA: TRUSTIVO, the secure social retirement network transforms the way individuals and trusted advisors connect, engage and develop strategies for retirement.“The addition of ACA to our platform extends a unique and valuable service to our Retirement plan advisors, plan administrators, employers and plan participants” says Rad Pasovschi, Chairman of TRUSTIVO, “ACA’s patented and automated loan processing solution is indeed unique in the market today,” he says.

Access Control Advantage (ACA) provides an efficient loan solution for DC plan participants by lowering plan administration costs, eliminating loan repayment through payroll processing, reducing participant borrowing, enabling faster loan repayment, keeping more assets in the plans, and encouraging employee participation because of the knowledge that they can access their pension savings in an emergency. Because borrowing is more precise, employees only take out what they need when they need it, not a pre-determined lump sum. Also, if a loan is outstanding when an employee separates from their employer, ACA will continue to handle loan servicing on the same amortization schedule preventing the need to call for repayment of the loan during a difficult financial period for the employee.

This is a win-win-win for recordkeepers, employers and employees because it reduces plan leakage and the cost of loan processing and at the same time, provides maximum payment flexibility and protection for the employee” says Bruce Bent II, President of ACA. ACA works with 401k plans, 457 plans, and 403b plans.

TRUSTIVO’s secure social retirement network transforms the way Boomers and trusted advisors connect, engage and develop strategies for retirement. Access Control Advantage www.acaonline.com is the pre-eminent industry source for loan administration for the financial services industry. Access Control Advantage, Inc. is an affiliate of Double Rock Corporation. Double Rock is a financial technologies company providing the industry’s most innovative cash management and cash-related solutions to the broker-dealer, banking, qualified plan and retail direct markets.

Access Control Advantage Announces Patent and Software License Agreement with Fringe Benefit Group

admin — Mon, 26 Mar 2012 20:38:23 +0000

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New York, October 20, 2011 – Access Control Advantage (ACA) is pleased to announce that it has signed a patent and software licensing agreement with Fringe Benefit Group, an industry leader in the design, implementation and administration of health and retirement plans for contractors.

ACA’s patented solution eases the burden of retirement loan processing for recordkeepers and plan sponsors while providing a better loan solution for plan participants. Specifically, ACA can lower plan administration costs, reduce participant borrowing, eliminate loan repayment with payroll processing, enable faster loan repayment, keep more assets in the plans and encourage employee participation. ACA provides participants that separate from their employer the ability to pay their loan over the original term which eliminates the risk of a deemed distribution, tax implications and penalties.

“We have been creating value for the defined contribution industry and plan participants since we invented Access Control Advantage. With ACA, we have found that loan balances are on average 25% lower than traditional retirement loans because participants borrow only what they need when they need it. In addition, 30% of ACA loan repayments are higher than the minimum required,” said Bruce Bent II, president and CEO of ACA.

“This new loan program is an ideal fit for contractors because of their unique needs. They have an hourly workforce, little time to focus on HR and administration issues, and this program gives their employees better access to the fringe benefit being taken out of their paychecks,” said Adam Bonsky, executive vice president of government markets for Fringe Benefit Group. “This is a win-win for employers and employees because it reduces overhead and compliance risks for the company owner, while providing maximum payment flexibility for the employee.”

Fringe Benefit Group has partnered with ACA to bring this innovative new service for employers utilizing The Contractors Plan to process participant loans. The Contractors Plan is Fringe Benefit Group’s bona fide benefit plan designed for open shop contractors bidding and working on Davis-Bacon and Service Contract Act jobs.

Access Control Advantage, Inc. is an affiliate of Double Rock Corporation (www.doublerockcorp.com). Double Rock is a financial technologies company providing the industry’s most innovative cash management and cash-related solutions to the broker-dealer, banking, qualified plan and retail direct space. Through its subsidiary Island Intellectual Property LLC, Double Rock Corporation has more than ten years’ experience in successful patent licensing and patent enforcement. Island IP holds and manages patents and other intellectual property and currently has more than twenty patents and other patents pending.

Austin, Texas-based Fringe Benefit Group and its affiliate companies have helped employers design and administer fringe benefit programs since 1983. Through its nationwide network of independent brokers and agents, Fringe Benefit Group has established itself as the leader in government contractor health and welfare and retirement plans. Drawing on its expertise in the prevailing wage segment, the company has also emerged as a leader in group benefit plans designed specifically for hourly and part-time workers (limited benefit programs). For more information, log on to www.fringebenefitgroup.com or www.contractorsplan.com.

Access Control Advantage Announces Patent and Software License Agreement with BPAS (Benefit Plans Administrative Services, Inc.)

admin — Mon, 26 Mar 2012 20:35:03 +0000

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New York, Sept. 27, 2011– Access Control Advantage (ACA) is pleased to announce that it has signed a patent and software licensing agreement with BPAS (Benefit Plans Administrative Services, Inc.).ACA’s patented solution eases the burden of retirement loan processing for recordkeepers and plan sponsors while providing a better loan solution for plan participants. Specifically, ACA can lower plan administration costs, reduce participant borrowing, eliminate loan repayment with payroll processing, enable faster loan repayment, keep more assets in the plans and encourage employee participation. ACA provides participants that separate from their employer the ability to pay their loan over the original term which eliminates the risk of a deemed distribution, tax implications and penalties.

“BPAS is pleased to partner with ACA to bring this valuable service to our plan sponsor clients and their plan participants,” said Barry S. Kublin, BPAS president. “We believe that offering ACA will provide BPAS with a significant market advantage by offering a more flexible and contemporary solution to service participants’ loan needs.” BPAS will be a service provider of ACA for SunGard Relius and Omni users and will also partner with other interested recordkeepers to extend the ACA solution to their plan sponsors and plan participants.

BPAS was founded in 1973 and is a national provider of administrative, actuarial and consulting services to a diverse array of clients spanning the United States and Puerto Rico. BPAS services more than 2,000 retirement plans and 200,000 plan participants and $4 billion in plan assets.

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Access Control Advantage, Inc. is an affiliate of Double Rock Corporation (www.doublerockcorp.com). Double Rock is a financial technologies company providing the industry’s most innovative cash management and cash-related solutions to the broker-dealer, banking, qualified plan and retail direct space. Through its subsidiary Island Intellectual Property, LLC, Double Rock Corporation has more than ten years’ experience in successful patent licensing and patent enforcement. Island IP holds and manages patents, patents pending and other intellectual property and currently has more than twenty patents and other patents pending.

Benefit Plans Administrative Services, Inc. (BPAS) is a national provider of DC plan administration services (BPA), actuarial and consulting services (Harbridge Consulting Group), institutional trust services (Hand Benefits & Trust Company) and cafeteria plan administration (Flex Corp) to a diverse array of clients spanning the United States and Puerto Rico. With offices in Syracuse and Utica, New York; Pittsburgh and Philadelphia, Pennsylvania; and Houston, Texas, BPAS is truly a national organization, but one that is comfortably midsized.

Access Control Advantage Expands List of Licensees for it’s Automated DC Plan Loan Administration Software

admin — Mon, 26 Mar 2012 20:25:22 +0000

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New York, February 6, 2012– Access Control Advantage (ACA) is pleased to announce that it has signed a new patent and software licensing agreement for it’s automated loan administration application with another well established recordkeeper, adding to it’s growing list of relationships with visionary providers to HR professionals and sponsors of defined contribution plans.ACA’s patented solution eases the burden of retirement loan processing for plan sponsors and recordkeepers while providing a better loan solution for plan participants. Specifically, ACA can lower plan administration costs, reduce participant borrowing, eliminate loan repayment with payroll processing, enable faster loan repayment, keep more assets in retirement plans and encourage employee participation. ACA also provides participants that separate from their employer the ability to pay their loan over the original term which eliminates the risk of a deemed distribution, tax implications and penalties.

“We have been creating value for the defined contribution industry and plan participants for several years now. With ACA, we have found that loan balances are on average 25% lower than traditional retirement loans because participants borrow only what they need when they need it. In addition, 30% of ACA loan repayments are higher than the minimum required,” said Bruce Bent II, president and CEO of ACA.

Existing ACA licensees have described it’s patented DC loan process and software as “a win-win for employers and employees because it reduces overhead and compliance risks for the company owner, while providing maximum payment flexibility for the employee.” ACA is available directly to recordkeepers or via licensed providers such as Benefit Plan Administrators at www.myplanloan.com.

ACA can be effectively integrated with any recordkeeping platform, including Sungard Relius and Sungard Omni. Plan sponsors and HR professionals are encouraged to ask their recordkeeper about ACA and visit our web site at www.acaonline.com.

Access Control Advantage, Inc. is an affiliate of Double Rock Corporation (www.doublerockcorp.com). Double Rock is a financial technologies company providing the industry’s most innovative cash management and cash-related solutions to the broker-dealer, banking, qualified plan and retail direct space. Through its subsidiary Island Intellectual Property LLC, Double Rock Corporation has more than ten years’ experience in successful patent licensing and patent enforcement. Island IP holds and manages patents, software and other intellectual property and currently has more than twenty patents and other patents pending.