Get rid of PAYROLL SLOTS!
Consider Enhanced Vendor Contribution Management!
Since 403b plans have been in place, vendors have been viewed as a "Payroll Slot".
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It's time to change the way you view payroll slots, vendors, and simplify your withholding process. CLICK HERE for a simple comparison of the new way to do things.
What is a Common Remitter?
A common remitter is a type of third party administrator service that:
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Captures data from the employer’s payroll;
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Compares the amounts remitted with expected employee contributions;
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Compiles and reconciles exceptions with the payroll department;
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Identifies employees eligible for “catch-up” contributions and applies contributions in the proper order; and
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Distributes contributions to the properly chosen investment providers.
Why use a Common Remitter?
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Reduces your workload
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Insures contribution dollars and employee contribution data are in alignment, allowing more accurate and consistent transmission of your payrolls