Bridgeway Benefit Technologies (Bridgeway) and The Berwyn Group (Berwyn) are excited to partner together to revolutionize benefits administration by integrating Berwyn’s population data management expertise with Bridgeway’s cutting-edge platform, enhancing data accuracy, improving compliance, and streamlining plan management.
In a recent webinar, we discussed why we partnered, the power of using CertiDeath and CertiCensus on the Bridgeway BASYS and ISSI platforms, what integration looks like for our current and new clients and we answered questions from the webinar attendees.
Webinar panelists included:
- Jack Hartwig, Marketing Manager, Berwyn
- Lindsey Tate-McDonald, Director of Project Revenue, Berwyn
- John Mendoza, Solution Engineer, Bridgeway
- Jeff Herman, Executive Vice President, Bridgeway
Webinar Transcript
Jack: Thank you all so much for joining us today and taking time out of your busy schedules for our Bridgeway and Berwyn partnership webinar. My name is Jack Hartwig, Marketing Manager at Berwyn. We’re really excited to come together as a partnership team and talk to you a little bit about what’s happening in the industry with us. So, we’ll get into some introductions here of our panel today. We’ll talk a little bit about the current industry, give an overview of the services that are entering the Bridgeway platform, we’ll talk to the “why” behind this partnership, what this means for existing and new clients and next steps, look into the future and all that fun stuff followed by a Q&A. Our panel today is made up of Lindsay Tate-McDonald, our Director of Project Revenue over at Berwyn, Jeff Herman, Executive Vice President of Bridgeway, and John Mendoza, Solutions Engineer at Bridgeway. So, Lindsey, I’ll pass things over to you.
Lindsey Tate-McDonald: Thanks, Jack. So again, my name is Lindsey Tate-McDonald. I’m the Director of our project revenue here at Berwyn. I’ve been here for about 9 years and I’ve had a lot of experience in all different departments and definitely extensive work with a lot of our products that we offer today, so that will be a lot of what I plan on speaking about today is why we have the products that we have and what their used for and how they fit in with some services that we can offer. I’ll kick it over to John.
John Mendoza: Thank you so much. My name is John Mendoza. I’m a Solution Engineer here at Bridgeway. I have 17 years of Taft-Hartley experience. Most recently, I was a Project Manager in our PSO division, so I was helping teams with any kind of pension annuity for 1K projects and implementations. But now I’m here on the solution engineer team working with Jeff’s team.
Jeff Herman: Thanks John and Lindsey. I appreciate it. My name is Jeff Herman. I’m executive Vice President here at Bridgeway. I oversee our client strategy, product strategy and partnership strategy here with the firm. I began my career in the Taft-Hartley technology space about 20 years ago, working with pension and health administrators across the U.S. and Canada. If you’re not familiar with Bridgeway, Bridgeway has been providing technology solutions primarily in the multi-employer Taft-Hartley, but also in studio employer TPA and municipal space for over 40 years. We are the providers of the of both the BASYS and the ISSI benefit administration platforms, and we deliver both of those to nearly 400 installations around North America. There are over 2,000 benefit plans that are being administered on our platform. We’re thrilled about the partnership with Berwyn. We’ve obviously been working with Berwyn for a number of years, but this new partnership really enables us to bring a really rich set of capabilities and integrations not seen previously through our relationship, so we’re excited to be here today and we thank Berwyn for setting this up. So, with that, I’ll turn it back over to Lindsey.
Lindsey Tate-McDonald: Thanks, Jeff. Today we’re going to be focusing on two products that will be available through the Berwyn and Bridgeway relationship, which is CertiDeath and CertiCensus. First up, we’re going to be talking about CertiDeath which is Berwyn’s premier death audit service. Before we talk about why we created CertiDeath and how it’s different from other death audit services that are on the marketplace today, let’s take a quick step back and talk about why it’s so challenging to identify deaths currently. You may have heard articles in the past referring to the demise of the Death Master File. In 2011, there were changes in legislature made by Congress which affected the Death Master File and removed 4.2 million state death records. The reason for these changes are primarily due to privacy concerns surrounding sensitive death information. The Death Master File prior to 2011 was close to a complete death data source that we had. Currently, there are now two versions of this Death Master File (DMF). There’s the full DMF and then there’s the limited Death Master File. The limited DMF is a restricted version of the full Death Master File and is publicly available and accessible only to certified entities such as Berwyn and requires them to demonstrate a legitimate need to access that data. So, let’s talk about kind of the sources that funnel through the DMF. Both the full and the limited DMF have a lot of third-party sources that are funneled through there. So, third-party sources can be things like family members, hospital funeral homes, financial institutes, post offices. So those types of things that are reporting. Death information straight to the SSA. The full DMF includes all those third-party sources, but then has all the state death reported information that that funnels in and that’s really what kind of takes the limited to the full with having the complete set of death data. Let’s just talk about an example really quick so that we all kind of really understand. So, if a third-party source like we talked about a family member or hospital reports the death of an individual that passed away in the state of New York and they report that death directly to the SSA. The death will be reported within the limited Death Master File, which is available to how I mentioned before. Certified recipients like Berwyn. However, if the state of New York itself also reports that death to the SSA, the SSA will omit that death information from the limited DMS, even though that third-party source also reported it. So, who can access this DMF or the full DMF? The SSA shares the full death data with certain agencies that pay federal funded benefits for the purposes of assuring the accuracy of those payments. Some of these agencies include Center for Medicare and Medicaid Services, Department of Defense, Department of Veterans Affairs, the IRS Railroad Retirement Board, so entities like that. The death information provided in the limited DMF continues to go down every single year as we can see on this chart since 2011. Now, we’re currently only receiving about 16% of all deaths that we report through the limited DMF, there are no plans on restoring the limited DMF back to its full DMF prior state to 2011 and we expect that that percentage of deaths that we continue to get through that limited DMF to just continue to decline year over year. Let’s talk about what we did to try to fill the gap. With the changes of 2011, Berwyn had to start looking for other ways to fill in this missing information. Since we no longer had all the full state death data, so we were still able to purchase some state information, but some states are considered to be closed states, meaning they’re not going to sell their information to anybody. Also, each state’s cadence of reporting deaths vary. Some states report death information and provide that to us on a weekly basis. Some aren’t on. Some are on like more of a monthly, quarterly, and even annual basis. So, it’s really inconsistent when we do get that death information from states and you can see it currently makes it up about 17% of the deaths that we report are coming from state resources. The other, which is really the main source of information, is obituaries. So, you can see on this graph about 67% of all deaths that we report out are coming from an obituary source. Obituaries come with their own set of challenges, too. So unlike state and SSA data that is matching up on a unique identifier, which is a Social Security Number, obituaries don’t contain a Social Security Number. So, we really rely on other data points, such as the names, the dates of birth, the locations to pull that information out. And match them to participants. There are some main challenges with some obituaries. There’s no editorial standard to writing an obituary. A lot of times, obituaries are coming from family members and friends. There’s not a book on how to write a proper obituary, so oftentimes names are different, usually through marriages/divorces. Sometimes people put nicknames in there and sometimes middle names can be used instead of their legal first name. Obituary locations, so again, there’s no set rule that says where an obituary has to be published. Sometimes it’s where a person lived, sometimes it’s where a person grew up. Obituaries may or may not include a date of birth, sometimes just have age listed. Sometimes our clients have bad data, right? They might not know a date of birth, so making that connection can sometimes be challenging. And obituaries don’t live on forever, right? So, funeral homes often publish or post obituaries, but they’ll take those down after a certain period of time. It’s common after three, six months of somebody passing away, that that funeral home will no longer have their obituary up and available on their website. So that information. It’s lost right? As soon as it’s coming off online. You may not find that information again. And then there are times there can be multiple obituaries for the same person and sometimes that information is conflicting between the two obituaries. Let’s talk about how CertiDeath handles these challenges and what it really does. CertiDeath identifies 96.5% of all decedents using over 26,000 data sources, proprietary algorithms and our own human expertise. So, on average CertiDeath finds about 38% more deaths than any other death matching service that’s available in the industry currently. What you typically find with another death audit service provider is usually just death hits, so typically sorted by a category code or a high, medium, and low probability matching logic. So, what do I mean by a death hit? A death hit is comparing your data with death audits or death data sources such as. Assess it as the SSA, which is the limited death master file, state data, obituaries, and providing back information if your data was matched on one or more of those data. So, let’s talk about an example. You can have an exact match from a state or an SSA reported death that matches on name, date of birth and Social Security number exactly. That would be really great, really easy to look at seeing your data, their data and match exactly no problem. Go ahead and feel really confident that that belongs to. Your participant. But more often times than not, it’s actually much more challenging than that. And what’s actually reported to you is partial matches of your data against other death audit sources or death data sources. So the name, the date of birth match, but not the SSN or the SSN and the date of birth and the last name matches, but not the first name, so you get all these different variations and it’s really up to you to have to comb through all of those results and those possible matches and determine if it belongs to your participant or not. Oftentimes, what we see with our clients is they don’t have the ability to correct if they have bad data or pull in additional data that may help them make that determination if we have a possible obituary match. So again, like I mentioned before, our victories come with their own challenges, which we identified and we talked about. And oftentimes our clients don’t have current locations for their participants, which is kind of the key source of using obituary data. We’ve mentioned that oftentimes just an age instead of a date of birth can be an obituary, the legal name what you have on file, which is listed in the obituary are different. All of these different factors and what we have to try to comb through this information and try to provide you matches. So here at Berwyn, we’re equipped to handle this missing data and bad data. We have large amounts of resources that allow us to see complete address history as the participants. So we can make those determinations if they did live somewhere other than the last known address that you had for them. We can make those connections. There’s also oftentimes relative information in obituaries, right, not oftentimes or not all the times our clients have all the relative information, but we have access to that kind of data we can look through. Relatives that matched to the participants based off their Social Security Numbers and whats listed in an obituary and see all the connections there. We also have algorithms to manage name changes like I mentioned before, nicknames using middle names instead of their legal first name. All these different variations we have tools to pick out those and make those connections. And then we also have a team of experts that review these obituaries on a daily basis. Again, I mentioned able to pull in additional data to help make those connections and what we provide back to you as the client is validated deaths. So, it’s not death data like I mentioned before, where you have to come through and determine if this information is a match or not. We are telling you the answer and we are telling you that it matches. We have a 99% accuracy rate in what we provide to you, so you can feel really confident that if you receive a reported death from us that that that belongs to your participant. So, CertiDeath is really the only solution that provides validated results to prevent your fund from making overpayments. Again, we have the last part of the reporting. Deaths are reported on a weekly basis through our web-based portal which you have access to 24/7. There’s also abilities to pull in to create custom reports. You can also customize the way that you send us data and that you want to receive data if you need custom headers. Things like that. So, we can definitely make adjustments and customize it to your needs. Let’s talk about CertiCensus. CertiCensus is your full pension plan management tool. So CertiCensus not only comes with CertiDeath, which we just talked about extensively. But it also takes it up a notch by maintaining current address information for your participants, identifying beneficiaries once the participant passes away and also helps send the required mailing per year. Oftentimes, that’s an annual funding notice for most of our clients. There’s extensive reporting that’s available on a per participant or for your whole population level, which you can use if you’re ever in an audit type situation. The information is reported to you on a weekly basis through our web-based portal which you have 24/7 access to view. It all starts with a participant data file. Information that we asked for to utilize the service is name Social Security Number, date of birth and the last known address that you have on file. So, once we receive that information it gets straight put into our death audit monitoring process which I mentioned was the CertiDeath audit. So that’s something that’s run continuously on a weekly basis. You’ll get reports every week if we have any new death information to report to you. If one of your participants does pass away, you are able to utilize our beneficiary search tools. This is a very extensive relative search where we go and pull up to I think our max number is now 13 relatives and 80% chance that we provide spousal information. When we talk about spousal information, we can let you know things that if we think they were married at the time of death or not, if they were married, is that spouse still live or if they’re deceased, we provide the data death. We also provide all the current addresses information, phone numbers, dates of birth for those relatives. So not only the spouse, but we also provide first degree relatives around 95% of the time we always provide at least one first degree relative giving you all that address information, dates of birth, phone number, everything that you need to make communication and outreach to that beneficiary in case there was some sort of a benefit that may be due to them. The address verification. So, this is for locating participants and keeping their address information up to date. On average we find about 33% of all of our participants data has incorrect address information when they first start utilizing CertiCensus. Addresses are something that are changing on a regular basis, so according to census data, about 9% of the U.S. population move within every single year. Historically, participants were receiving paper checks in the mail and so having outdated address information was really less of a concern for our clients, because if somebody was going to move and they were getting a paper check, you best believe they were probably going to call you and let you know of their new address so they can continue to receive their monthly benefits. But now that we have benefits of getting paid through direct or electronic deposit, really those participants making communication to their previous employer or plan or funds is it’s not happening like it used to. So, it’s really easy for our clients to get outdated address information very quickly. On a quarterly basis we will monitor your participant addresses. We compare the client submitted address to what is showing as the most current through our Berwyn resources. If the address that the client provided and what we are showing matches, we feel that confident that that participant still lives at that location and continue sending any communication that you need to. However, if there is a discrepancy with what the client provided an address and what we are showing as our current address. Then we actually put those participants through a more enhanced locate search. And so that enhanced locate search is conducted eligible once per year for each participant. And again, we will put them through that enhanced locate search if we suspect if there’s a chance that participant has moved based on those results of those quarterly address verification. The enhanced locate search includes a series of outbound letters sent to the participants, asking them to either confirm or update their address. The letters that are used for these outbound communications are created by the client so that they are comfortable with the communication that is sent out to each participant. And then those participants have multiple ways to communicate back to Berwyn to confirm or update their address. We have a full-time call center they can call anytime and speak to a live representative. They can mail back the bottom portion of the letter, so we provide an envelope for them to mail back. They can put off the portion where they’re updating or they confirm that the address is correct, that we mailed to. Or we have an online portal that they can access anytime that they need so each letter has a unique reference number and a letter ID code on those letters. If they go on to the online portal and plug those two numbers in successfully, then it pulls up the same information that appears on the letters that we sent through the mail. So, the reason why they’re being contacted, who’s contacting them and then the option to confirm or update their information. Those letters are sent out in two week increments for up to six weeks. Unless the participant respond, and then in which case the outbound communication stops with those participants, and then we send you your weekly report with the updated address, and then we also update the portal so you can easily see the current address information. If you’re looking up a one-off participant. If the participant does not respond to the letters within those six weeks period, then we also have our call center that makes outbound phone calls to those participants. We also identify social media links and we find that between the first three and six months of using CertiCensus, on average, 97% of our clients population will have a confirmed address on file. So it really gets great results that we’re seeing across the board with other clients that utilized it. The last aspect of CertiCensus, like I mentioned before, is required mailing. So, it comes with one required mailing sent each year. Most of the time that looks like an annual funding notice for our clients, but it doesn’t have to be. It just has to be one. A notification that’s generally the same for every participant that it’s being sent to. At the beginning of your service, the date for your required mailing will be communicated to us, and then we’ll reach out to you about a month ahead of that mailing date to ensure that we have all the required documentation needed to send out that mailing. The best part about this is that those require mailings is that the return address is back to Berwyn, so we manage all the returned mail for you, so you don’t have to worry about return letters sitting on your desk. What do I do next with it? How do I find? The address we mail to, we track it, we document it. So, again when we talk about printing reports for audit purposes. It’s a very detailed and shows all of this data. If we do receive any returned mail back from a required mailing, those participants get kicked back over to that enhanced locate process, so that by the time next year rolls around, if we have another required mailing or there’s another notice that you need to send out that we can quickly get that address updated and we can ensure that information is getting sent out to the right. The right address to the right participant. We went over a lot of these in detail, but here you’re just kind of seeing the overall package of CertiCensus. Making sure that again, you’re getting complete death audit on a weekly basis. We’re constantly maintaining that address information, being able to have relative information at your fingertips in case one it’s missing from your record or two, some of that relative information paperwork was filled out, ten to twenty years ago, maybe that address information for that relative is no longer valid, so being able to confirm that information get updated information if needed, and then making sure of course that we have confirmed addresses by the participants themselves in case they and they ever moved. You’re not just updating information based off a commercial data source or something you find online. Really, we want to ensure if any addresses are changing we want to make sure that we’re confirming those with the participants before we make any changes or communicate any updates to you. And again, there’s always changes that are going on, new guidance rules, we really position our products in a place where we try to update it as many of these recommended guidelines are released. So, when we were thinking about CertiCensus and how we locate missing participants, if you’ve ever looked through those guidances, you’ll see a lot of recommendations. It’s not as easy as looking through it as just saying, oh, you do steps 1, 2 and three if you’re ever getting an audit, you’re good. It’s really kind of challenging to going through each one of those recommendations and seeing what you can do. Since this really hits on all of those, and you can feel really confident if you’re ever in an audit situation that CertiCensus really covers your basis. Like I mentioned before, you have very detailed reporting that can be pulled at any given time that shows all your efforts and everything that we’ve done to maintain your population. So, we’re very transparent with those reports so you have all the data that you need. All right, I’m going to take it back over to Jeff. He’s going to talk about the why behind this partnership.
Jeff Herman: Thanks, Lindsey. That was a great information and as you were going through it, I was just sitting here thinking about, you know, for 20 years. As I’ve gone into plan, administrative offices, TPA offices to talk about the technology. Fact, just one of the most recurring themes that we hear and challenges from administrators is maintaining member information and member addresses, right? So that 33% really rang true for me. But, you know, if Bridgeway is the providers of an enterprise class benefits administration system, right? We know that the accuracy of the processing of these benefits is of the utmost importance, whether or not it’s processing the contributions coming in from employers, determining or whether it’s health eligibility or pension eligibility, calculating the benefits, you know very specifically to the planned documents and ensuring that month after month that pension payroll process is sent out there. It is of the utmost importance. With that being said, we are also that source of truth as it relates to data. So, at Bridgeway, as we continue to invest in our platforms, three things that really we hold true to as we look at. How to deploy those R&D dollars are ensuring that our solutions are secure. Obviously, we’re talking about very sensitive PII data. We want to be compliant with all the regulatory aspects as well as protecting that participant data. We want it to be sustainable. You know, many of our clients have been using our platforms for decades. And we want to ensure that integrations that we have with Berwyn and other partners are sustainable for years to come because we know in technology the only constant is change. And lastly, we know that we can deliver the highest quality services and solutions if we are very systematic about how we deliver these solutions. So, as we as we work with Berwyn on this partnership and John who’s here on the call from our solution engineering group. It was really important to us that we make sure that this partnership and this technology interface solution, it really meets those tree criteria: that it’s secure, that it’s sustainable and that we are doing it and it’s a very repeatable process for our customers. I think Berwyn along with Bridgeway are delivering value to our clients is our number one, number two, and number three goals. And so with that we’re just very excited about the partnership and we are confident in the value that the extended value Berwyn brings to our clients. As we talk about how can we deliver this information to both existing as well as new clients on some of the things that really jump to my is the streamline operation. So, John and the team spent a lot of time and energy ensuring that we have a very robust, very streamlined operational process with Berwyn on how we’re exchanging this data on the frequency that Lindsey talked about earlier. And we want to make sure that we’re doing that with the commitment to quality and security as I mentioned, I want to also just be very clear. That as when Bridgeway clients are engaging with Berwyn there’s really no cost from a Bridgeway perspective to deploy these interfaces. We felt like that was an important aspect to delivering value to our clients. And while we’ve invested in the partnership as well. So with that, John, I’ll turn. It over to you for any other additions.
John Mendoza: Thank you. If you are interested in taking part in this, just reach out to your Customer Success Manager or your BA to get the process started. It really should be the first part of it, at least of getting the file over, which should be completely transparent to you. We’re going to set that up for you with the SFTP information. And then ultimately, what would happen is once Berwyn provides a data file back with updated information, we can configure it for it to be what you want it to be. This is how we can either make it automated so it automatically takes place in your ISSI or BASYS system, or we can set it up where you can review the files and just make sure it’s exactly 100%. Once you put into the system which one, it’s completely flexible in that regard. Again, all you have to do if you want to take part in this is reach out to your CSM or your BA and we can get this process started.
Jeff Herman: I would just add, John, I do think it’s important that as you begin conversations with your representatives at Berwyn, that you sync up with your Bridgeway CSM or Accounting Executive early in the process. So that we make sure that from a planning scheduling process that the two tracks are moving down the field at the same pace. Because obviously, if you’re a new client to Berwyn, there’s some work there that you need to do to select the right product for your needs and go through that process. Then work with us on the deployment of the integration solution. I think the last thing here in terms of next steps would be to ask all of you here on the call today with us as you as you think through the solution and you begin working with us on this interface – we want to hear from you. We want to hear feedback on how we can make improvements to the data sets, how we can make improvements to the integration. So that again, you’re getting the most value out of this partnership. Reach out to your CSM, AE or Berwyn contact person and we’ll ensure that we get you those client specific answers as well. But you know again I view this as kind of a v1 or v2 deployment of the integration and so we’re looking for that client feedback as we continue to evolve the solution itself.
Jack Hartwig : Thanks, Jeff. That’s a great point on all that. And you make sure to stay tuned for updates, too. Our most popular communication channel is e-mail. So if you’re not subscribed to our e-mail lists, you can find both of those on the Bridgeway and Berwyn website here. Now, we’ll jump into the Q&A portion if we’re ready for that. Thank you, Lindsey, John and Jeff for all that great information about what’s happening here. And so we covered this a little bit, but I think this is important just to reiterate, because this question came up quite a bit and it’s just the impact on current clients. And John, I’ll, kick this over to you. How does this partnership between Berwyn and Bridgeway affect existing clients of both companies, including changes to processes and relationships?
John Mendoza: Well, that’s the great thing, right? Because we kind of streamline this process right because you know some of the feedback that we’ve gotten over the years is that OK, you make a request, but it might take a little while to implement, right. So, the fact that we’re streamlining this process, making sure we have everything set up as much as we can with minor tweaks once we do have. To go live with this, it gets up and running that much faster. So that’s great for everybody across the board.
Jeff Herman: I would also add, I mean you know I know that many of the Bridgeway existed, the existing Berwyn clients that are on a Bridgeway platform are leveraging the asserted death service. So as a shameless plug on behalf of our partner, I would encourage you to look at CertiCensus. A solution just again delivering extended value, especially around the death certification. I know has it provides dramatic savings as it relates to stopping those pension checks going out the door. But I got really very excited about the work that they do on the communication with the participant on the address verification. Many of the Bridgeway clients on both of our platforms are not just administering pension benefits, but you’re administering health and welfare benefits, annuity benefits and ancillary benefits. You know that have been collectively bargained on behalf of your Union. Benefits that we administer off the platform and keeping those addresses clean and up-to-date and verified, I think has just tremendous value throughout the organization. So, if you’re currently working with Berwyn and you have a current deployment, I would certainly think about this. As an opportunity to look for opportunities to streamline it as well as extend the value.
Jack Hartwig : Awesome. Thank you for that, Jeff. Much appreciated. Lindsey, anything to add there for Berwyn clients that maybe aren’t working with with Bridgeway yet and what that looks like?
Lindsey Tate-McDonald: Yeah, I would definitely say, reach out. Bridgeway offers lots of great services. As far as housing data, Jeff and John, you can certainly elaborate more on that. But and I think we talked about that in the beginning, but yeah, certainly if there’s Union clients out there that need to consolidate data. Bridgeway is a great source and the reason why we also partnered right partnership goes both ways.
Jeff Herman: Thanks, Lindsey. As we work with new clients at Bridgeway we go through a number of discovery discussions with clients first to ensure that you know you’re looking at the right platform. The fact that we have we do have two then admin platforms but if you’re not working with us today, we I would say 95% of the new organizations that come to Bridgeway are coming from legacy homegrown. In many cases, AS400 platforms that have just reached their point of obsolescence and that so we have a great deal of experience in the data conversion and modernization and digitization of those offices. And we’d be happy to have John or someone else from our solution engineering team spend some time chatting with you about your unique situation and whether or not a Bridgeway solution could help.
Jack Hartwig: Lindsey, another question coming your way. Let’s talk a little bit. About scope and compatibility. We talked a lot about pension plans and whatnot, but do these services accommodate non-DB and DC plans?
Lindsey Tate-McDonald: Yeah. I think Jeff hit it on the nail. He really talked about all the different areas in which these services can really benefit you. That’s not just pension plans, right, not just DC plans, but their health and welfare plans. They hit all of the board. So really where there’s benefits due to your participants, where it’s important to understand when they pass away, where they’re living. So you can stay in regular communication with these participants. Is really important, right? So these services really provide a lot of value. They’re very intricate services, they’re a lot of different steps and a lot of things that are going behind the scenes that make it really easy for you just to manage your plan and work out more proactive outreach and communication with your participants. You’re not doing all the back end research that takes a long time and gets you bogged down. As far as you know, sending out letters having and get back, what do I do next? Finding out some views to see so I don’t have a relative on file or beneficiary on file. Where do I go? We really try to provide a lot of those answers for you. You can log in the portal to find all that data information and move forward with the process of managing the pension plan effectively.
Jack Hartwig: Perfect. Great. So, then John, question coming to you operational changes. You know just as far we spoke a little bit. You guys have covered pretty well how streamlined this integration is, but let’s talk about a file upload. So, is there going to be need to be a dramatic change to file formatting or anything like that with this integration?
John Mendoza: And if there would be a change again, it should be transparent to the customer, right? So that’s how we have it set up so that all again, just to get the process started reaching out to Bridgeway and/or Berwyn to get the process started with the CSM and the BA and your Berwyn counterpart. Once that gets started, we can take it from there. And then whoever actually starts working on the actual transition, we’ll reach out to the customer and say how much do you want us to configure this for you? Do you want it again to? Automatically upload back into your system or do you want to take a look at that report first and then you can manually do it? We can do either way. So the initial transition plan should be fairly simple and transparent. And then we can just take it from there.
Lindsey Tate-McDonald: Just to add one thing and the benefit is just historically working with clients that we already have on contracts that also use Bridgeway services. We kind of talked about in the beginning of getting that initial file over could sometimes take a little bit of time. We are telling them how we need to receive the data that clients then communicating with Bridgeway and how can you put the data in the format that they need and it was kind of like this round robin circle that we were playing around with this relationship, it really minimizes that for the client. We were really trying to think about how do we make it easier for the client to do work with both of us. Right. And so it really got Berwyn and Bridgeway commuting together. We’re working currently on exactly what those formats look like. So when you’re ready to start a service. We already know what’s needed on the backend and right there is no putting the client in the middle and saying hey, this is what we need. You go figure it out with somebody else. Everything it really eliminates that. So it should make a much smoother process and getting started.
Jack Hartwig: And just touching on this one last time here, this was the last of our pre-registration questions. What is the cost for something like this? We touched on there not being an additional cost, but how does this partnership provide financial operational benefit such as preventing overpaid pension benefits? Or offering more frequent reporting.
Jeff Herman: Yeah, on the Bridgeway side, you know and our partner ecosystem that we’ve really invested in. So, there is no cost to implement the new interface with Berwyn. That should be pretty easy, but I would say you know, on the Berwyn side, obviously their value and the ROI and cost savings comes to that service, Lindsey. We’ll work with individual clients on determining sort of what those opportunities look like.
Lindsey Tate-McDonald: Absolutely. So, the best thing to do if you if you really wanted more detailed pricing, is to reach out to bridgeway@berwyngroup.com and we can certainly answer any questions. We’ll have a Sales Rep contact you, there’s a lot of factors that kind of go into pricing as far as how many participants and what’s your plan look like type of a thing. And then we can determine what that pricing looks like for you and we really work with our clients to add as much value as we possibly can with these services.
Jack Hartwig: Thank you so much to our panel here today. Lindsey, John, Jeff, great information. Really appreciate you guys sharing all that with us. And thanks to everyone that joined us here today and taking time out of your busy schedules and we’re really looking forward to this partnership and the value that we can bring to all your organizations.
