A Partner You Can Count On

Whether you need a full-service administrator, technology license or something
in-between our team and processes are built around your needs, not ours.

Financial Accounting and Regulatory Reporting

Our experienced team has the expertise to meet the specialized needs of each client.

Financial Services

Financial Accounting

  • Preparation of Financial Statements
    Monthly balance sheet and income and expense statements are customized to fit your needs in addition to annual GAAP basis financial statements required for SAS112/SAS 115.
  • Governmental Filings
    Timely and accurate fulfillment of all regulatory and reporting requirements is provided to all providers, participants, and tax authorities. We prepare and file all required monthly, quarterly and annual tax forms along with appropriate tax payments.
  • Payment of Plan Expenses
    We process all administrative invoices and prepare monthly disbursement letters detailing all administrative plan expenses in compliance with established Trust procedures.
  • Record Keeping
    We maintain all financial records, including but not limited to: maintain a proper accounting system reflecting all receipts and disbursements, maintain sufficient documentation to support all transactions recorded in the general ledger of the Trust. Process and manage cash transfers as directed by a designated representative of the Trust. Provide monthly financial statements to Trustees and other designated plan professionals along with financial information and documentation to external auditors or governmental agencies.

Contribution Accounting

  • Flexible methods for receiving remittance reporting including accurate processing of benefit reports from paper, electronic files or online. More and more employers/contractors are utilizing our online remittance process because of its ease of use
  • Daily review of deposits with checks and balances in place
  • System is simple and efficient for all users

Eligibility Management

  • Maintenance of all necessary information — personal, general, coverage and eligibility spans
  • Retrospective additions and terminations
  • Timely and accurate identification card preparation
  • Unlimited plan and coverage changes with complete history
  • Multiple levels of eligibility breakdown — by Period, Employer, Plan, Level and Agreement
  • Maintenance of premium and rate data
  • Premium reconciliations and tracking of commissions
  • Active member to Retiree status conversion
  • Tracks Eligibility status including Initial, Eligible, Terminate and Reinstate by period
  • Proactive management reports including those turning age 26, 65 or 70 1/2
  • UARS and New York Life reports
  • COBRA Administration –
    • Initial notification letters to all new hires
    • Qualifying event notification
    • Ongoing customer service and maintenance upon COBRA coverage election
    • Tracking of premium payments and due dates
    • Eligibility transfer with fees to other vendors
    • Termination notice after COBRA coverage period
    • Compliance with program administration requirements
    • Comprehensive COBRA activity reports
    • Administration of ARRA

What Our Clients Say About Us

BMGI is proud to have supported unions and their members for more than a decade.

“BMGI provides simple solutions for complicated problems.”

Tony Mayrhofer
Business Manager, Ironworkers Local 8

“Our Health Care Fund has been with BMGI since 2007 and we’ve been very happy with their performance and service. BMGI’s ability to be proactive and help the Fund plan for the future has been great. We’ve achieved levels we never thought possible!”

Paul Mancillas
Union Trustee, Chicago Graphic Arts Health & Welfare Fund