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