Payroll integration can make your 401(k) plan much easier to manage. There are several types of payroll integration that can be leveraged. This infographic shares two ways; 180 degree and 360 degree payroll and 401(k) integration. 

 
Payroll Integration
 
  1. Recordkeeping System. A participant in the 401(k) plan makes a deferral rate change request into the recordkeeping system.
  2. Plan Administrator. The employee’s request creates an email notice and a report to the plan administrator listing the new deferral data.
  3. Payroll System. The new deferral data is updated in the payroll system.
  4. Payroll Data. The overall payroll data is sent to the recordkeeping system which spurs the funding of the employee and employer contribution. The employee’s new deferral rate is now set and funded.

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Fisher Investments 401(k) Solutions is dedicated to helping small and mid-size businesses deliver successful ‭retirement plan services. Our success is defined by each business achieving its custom 401(k) plan goals and by ‭empowering employees with the dedicated support and resources necessary to achieve a dignified retirement. Our ‭solutions are built on the core principles of providing employers and employees ready access to dedicated 401(k) ‭specialists, flexible investment options, and fee transparency.

The Fisher Investments Resource Library is designed to support 401(k) Plan Sponsors with insights, tools and ‭answers without obligation.

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