Big benefits for your business
By integrating your payroll processing with your retirement plan, you can:
- Save time and money by eliminating the need to manually enter data in multiple places, so you’ll have more time to focus on your business.
- Reduce errors by automating contribution transmissions and data collection.
- Minimize administrative tasks with easy participant eligibility tracking, enrollment, and loans with 360° integration. Any changes made by the employee are automatically sent to the payroll provider.
- Help expedite retirement plan payroll deposits through an efficient and automated process, ensuring the timely investment of employee contributions.
How does payroll integration work
Choose between two types of payroll integration: 360° and 180°.
360° payroll integration
With 360° payroll integration, payroll data is exchanged between the payroll provider, the employer, and Ascensus. When an employee makes a change to their savings rate or loan status, the data is automatically transmitted to the payroll provider—and employee updates are made within the payroll system’s records. With the 360° model, employers have minimal involvement outside of processing payroll.
180° payroll integration
With 180° payroll integration, payroll data is exchanged between the payroll provider and Ascensus, helping automate the contribution process. The employer receives weekly notifications from Ascensus if an employee makes an election change. The employer must manually enter those changes into their payroll software program.
Get started with payroll integration
Find the payroll provider you currently use or are interested in using on the list of partners we work with, and contact the provider directly to inquire about payroll integration. The provider will appoint a specialist to handle the payroll integration setup.
Provide Ascensus with the payroll integration specialist information, and Ascensus will work with the payroll provider to have the plan set up with payroll integration.
Interested in learning more?
Already working with Ascensus? Contact your Client Service team. New to Ascensus? Contact your advisor.
The Ascensus list of payroll providers we work with is provided solely as a convenience to plan sponsors. Ascensus does not endorse the payroll providers listed or the products and services they provide. Plan sponsors are not obligated to use them. Ascensus suggests that plan sponsors perform their own due diligence – including technical and financial reviews – before making any decision regarding a payroll provider.
