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401(k) Pay Features

401(k) Pay Payroll Integration 

401(k) Pay

PAYROLL  INTEGRATION

Our new 401(k) Pay Service makes managing 401(k) plan contribution easy !

Managing payroll contributions in a retirement plan can be a time-consuming process, Subjecting plan sponsors to the risk of costly errors when manual entries are required or contribution are not deposited timely.

TRPC have been working to simplify this process and make it more efficient. For this we have now implemented a tool named 401(k) Pay Payroll Integration. 401(k) Pay Payroll Integrations is a software-as-a-service that connects major payroll providers with 401(k) record keeping platforms. It helps 401(k) record keepers and TPAs by providing their clients with a plug-and-play data integration solution.

The goal is to simplify the work for the plan sponsors and eliminate data entry errors by automating deferral uploads from the payroll processor into the recordkeeping platform. It will also eliminate the process of uploading the payroll files manually. All deferral updates or changes will be made automatically with seamless two-way communication between the 401(k) and payroll.

You no longer need to upload files to us – we’ll work directly with your payroll provider.

Payroll and 401(k) provider integration reduces the amount of fiduciary risk for the plan sponsor.

Direct communication between your 401(k) provider and your payroll provider – you no longer have to be the middle man.

Helps ensure on-time contributions.

360° Full integration payroll providers receive participant contribution election changes directly from TRPC – you no longer need to enter them manually.

Less time and hassle for you.

How it Works

Each payroll period, census and payroll data are automatically transmitted to us from your payroll provider, without the need for any manual intervention. Additionally, for 360° full integration payroll providers, updated deferral and loan information is pushed to your payroll provider, ensuring participants’ contribution rates are always up to date.

Security

We understand the sensitive nature of the information we transfer. All databases are hosted on secured sites and all data is encrypted in transfer and at rest. Data is backed up across multiple sites in case of natural disaster, so data is never lost and our services run on time without issue.