Risk Compliance Performance Solutions and Bankruptcy Management Solutions Announce Partnership to Offer Plan Termination Services

DRESHER, Pa., March 17, 2011 /PRNewswire/ -- Retirement Plan Management Services, a division of RCP Solutions (RCP), the leader in ERISA Plan compliance and termination advisory services, has partnered with Bankruptcy Management Solutions, Inc. (BMS) the industry's foremost provider of bankruptcy case administration, to provide integrated plan termination services to fiduciaries, alleviating the risk and compliance of plan terminations quickly and efficiently minimizing unnecessary costs.

"We are delighted to be expanding our service platform to further serve the needs of bankruptcy fiduciaries tasked with navigating the complexities of terminated or abandoned plans," said Dorothy Flynn, Chief Executive Officer of RCP Solutions.  "This is a true partnership enabling two best in class providers to collaborate on a specific category within our capabilities while continuing to operate separately. By integrating solutions, RCP and BMS will streamline participant outreach and location, determination of eligibility, payment of benefits, payment of plan expenses, preparation of reports for participants, and compliance with the Internal Revenue Code and the Department of Labor guidelines. Our combined expertise will offer fiduciaries a one-stop-shop solution reducing the burden of performing these obligations as the administrator of employee benefit plans after a company files bankruptcy as defined by Section 704(a)(11) in the Bankruptcy Code."  

"This is an exciting program that will deliver enhanced products and services to our clients," said Raquel Edwards, BMS's Chief Operating Officer.  "Terminating a plan is, unfortunately, becoming increasingly common in our current economic environment.  While many fiduciaries and advisors look to follow general guidelines for terminating defined contribution and benefit plans, the process can be time-consuming, as well as administratively and legally complex."

"We are excited to partner with RCP Solutions," Ms. Edwards continued. "RCP is an organization with extensive experience in managing ERISA compliance and, 401(k) plan terminations. RCP's experience will be invaluable to fiduciaries and will ensure they are compliant with the Department of Labor guidelines while terminating abandoned plans and, will assist with the location of missing participants quickly and efficiently."

About RCP Solutions

Risk compliance Performance (RCP) Solutions specializes in risk management, compliance,

communications and outreach programs that drive performance and positively impact the bottom line.  

We are a women-owned business and our executive team has more than 100 years of combined experience in a variety of industries and disciplines bringing a wealth of knowledge, excellence and innovation to all of our services.  Driven by state-of-the-art technology solutions, we integrate the many facets of business, risk, compliance and management to achieve the best results for our clients. For more information, please visit us at www.rcp-solutions.com.

About Bankruptcy Management Solutions

For over 20 years, Bankruptcy Management Solutions, Inc. (BMS) has been the industry's leading bankruptcy case administration software provider. Our software solutions support the administrative and legislative requirements of Chapter 7 trustees, as well as a variety of bankruptcy fiduciaries. BMS understands the complexities involved in bankruptcy and has developed practical and easy-to-use solutions that automate and streamline bankruptcy administration, making trustees and other fiduciaries more productive and profitable.

SOURCE Risk Compliance Performance Solutions