Business ProfileforBeacon Benefits, Inc.

This company is not able to do the work needed for a Profit Sharing Plan.We were forced into using them when our old administrator had retired.After months of BB requesting delays due to the "nature of the business PSP needs"we are now not able to speak with anyone on the phone, no one answers or calls back.For 20 years we have never had an issue with an administrator of the *****

BBI understands and acknowledges the point of view of the Reviewer.The 401(k) and *************************** industry evolves like any industry, however all change is driven by, overseen and regulated by Congress, the *** and DOL. Change to the industry is a direct result of policy and legal changes mandated on us. The second dramatic change outside regulation is market consolidation of providers as the Baby Boomer generation transitions to retirement.These macro trends pose challenges to employers using legacy systems not upgraded over the years. When an employer is also faced engaging a new provider without preparation, changes to process and service delivery are forced upon the employer.When engaging a new client with a legacy system, BBI offers upgrades to all clients services, systems and operations to reflect industry best practices, ERISA compliance, Data Security and technology efficiencies. If the client chooses to retain legacy systems, BBI can and does accommodate the legacy system (within legal requirements), but does require more time to fully service as each one is unique to that particular client. BBI communicates extra time is needed to service legacy systems.This Reviewer has been offered upgrades for two years and chose to retain their legacy system. BBI explained extra time would be needed, all within *** and DOL deadlines, including extensions.BBI has, in fact, completed all required work for Reviewer. The Reviewer, as any client we work with may choose:Upgrade the legacy system. This will improve efficiency and allow for delivery of information earlier.Retain their legacy system with the understanding the limitations on deliverables and scheduling.Review their needs and shop the marketplace for a provider who can service their needs on the schedule they require.BBI appreciates the opportunity to work with all small businesses on this very important benefit for their employees. BBI commits to offering best in class services, customized to a client.