Attention All Locals and Members Who Participate in the BACSAVE 401(k) Plan

The IPF Board of Trustees has selected Comerica Bank as the new BACSAVE/ BACFLEX 401(k) Plan service provider. Effective on June 29, 2001, Comerica will provide all participant record-keeping, investment management and Plan custodial services for the 401(k) Plan. “As you can imagine, a lot of Plan administrative work has to be accomplished prior to June 29 in order to make the move to Comerica a smooth and efficient one for Plan participants,” says IPF Executive Director David Stupar. “But we have it well underway and are confident the move of participant services to Comerica will benefit participants.”

Comerica is the 20th largest bank in America and has considerable expertise in multi-employer plans, participant directed 401(k) plans, and investment and record-keeping services.

Under the new BACSAVE Program, members will be able to choose from 10 Plan Investment Fund options, access their Plan accounts either by using Comerica’s internet connection or participant telephone service, and recognize considerable savings by reduced record-keeping and investment fees.

Earlier, Comerica Bank was appointed by the Trustees to serve as master custodian for IPF and also manage the newly established Trowel Trades S&P 500 Index Fund.