Integrating 401(k) administration into payroll with 360° integration makes perfect sense for businesses of all sizes. Your payroll provider works seamlessly with your 401(k) plan to simplify benefits administration. 360° integration allows the employer to provide retirement plan benefits at fraction of the cost of traditional benefits services. Use the data provided by your payroll provider, integrating payroll with the retirement management system, forming the perfect circle of benefits services for your business. It saves employers time and money, improves data quality, reduces retirement plan compliance issues, transmits data securely. It is easy to set up and continuously monitored.
AAP's payroll 360° integrates employer 401(k) plans directly with your payroll. With 360° integration, employee contribution changes are sent automatically and updated in the employer’s payroll system. Relieving employers of the administrative burden of uploading files and monitoring data. Census and contribution data is seamlessly and securely transferred for employers.
Why integrate payroll data with your 401(k)?
Saves Time -Employers which operate bi-weekly payrolls can save dozens of hours per year with 360° integration.
- No more payroll data extracts to review
- No more websites to access
- No more spreadsheets to upload
- No more manual data entry
- No more emailing employee hire and termination dates
- No more salary deferral forms to manage
- No more late deposits to correct
- Spend less time preparing annual census and retirement plan compliance data
- No longer will you need to store sensitive payroll and employee data in unsecure spreadsheets.
- No longer will you need to upload spreadsheets to the retirement plan management system.
Easy to Setup through your payroll consultant or a sales consultant
Ongoing Monitoring – Our benefits team continuously monitor payroll data transmissions and ACH processes to ensure transactions are processed timely.
Why choose two-way integration?
Because it automates all aspects of the contribution process, including changes participants make on the plan provider’s website to adjust their contribution levels. 360° integration allows data to flow in both directions between the payroll firm and the 401(k) recordkeeper. With 180° integration, these changes would have to be done manually.
Cost Versus Value
Even for small-company retirement plans, some level of automation can be a worthwhile investment, if only for the reduction in workload and the potential for minimizing human error, it can provide. In small to midsize companies, workers are often multifaceted and responsible playing multiple roles within the company. This is especially true for those workers who are responsible for the management and oversight of a small company’s retirement benefits plan.
Integrating payroll data and your 401(k) plan makes perfect sense for businesses of all sizes. Your payroll provider works seamlessly with your 401(k) plan to simplify benefits administration. Allowing the employer to provide retirement plan benefits at fraction of the cost of traditional benefits services.
Integrate 401(k) administration into payroll with 360° integration and give your workers the retirement plan security they are searching for. If you are interested in learning more about AAP’S 401(k) 360° integration contact your payroll specialist or call 888-871-9028 to speak with a sales consultant.