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".
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:
Captures data from the employer’s payroll;
Compares the amounts remitted with expected employee contributions;
Compiles and reconciles exceptions with the payroll department;
Identifies employees eligible for “catch-up” contributions and applies contributions in the proper order; and
Distributes contributions to the properly chosen investment providers.
Why use a Common Remitter?
Reduces your workload
Insures contribution dollars and employee contribution data are in alignment, allowing more accurate and consistent transmission of your payrolls