BAC SAVE Annuity Posts 10.38% Return for 2020, Adding New Participating Locals
The assets of the BAC SAVE RSP annuity plan now total more than $200 million and cover more than 20,000 participants. New participating jurisdictions include Locals 16, 40, 46 and 55 Ohio and the Knoxville and Nashville Tennessee Chapters of Local 8 Southeast. The former BAC Local 15-11 Florida Annuity Plan merged into the BAC SAVE RSP on March 1, 2017. In addition to financial hardship and inactive benefits withdrawals, participants wishing to receive a distribution from their accounts are offered several payment options including joint and survivor, single life annuities, monthly installments, lump sums, and rollover options at retirement or if they become disabled. The 2020 RSP Annual Statements have been mailed and are available on the Member Portal at: https://member.bacweb.org/.
RSP ANNUITY PORTAL ACCESS
The BAC Member Portal enrollment continues to increase including RSP Annuity participants that are enjoying round-the-clock access to account balances and can track hours and contributions to their individual accounts. Currently 3,539 RSP participants are using the BAC Member Portal, a fast and easy way to access this information.
To log into the BAC Member Portal, go to https:// member.bacweb.org/ and enter your username and password. For the first time user, you can click on “Create an Account” to create a new account, and if you forgot your password, you can click on “Recover Password” and proceed from there.
RSP Annuity participants can track their accounts with the member portal.