Leaderboard

Maybe it is time to recommend that he switches to a payroll company that can send the data to the recordkeeper automatically. Then he can setup with the recordkeeper to "pull" the contribution dollars and process them. For example, we have a lot of plans that get paid on a Friday. The payroll companies either send us the data directly or email us to go and pull the data from their "TPA Portal" on the day the payroll is processed in their system (usually Wednesday or Thursday). Dependng upon the employer's preference, we then order the money from their checking account on Friday (pay date) or Monday to be deposited to the trust company and processed from there. Another advantage is that the TPA could be setup to access the portal at the payroll company. Wage and census data can then be pulled for enrollment and plan testing purposes. I know that he is a small company but there are several payroll companies who provide "TPA Portals" at no extra charge. These portals can usually be made available to all of the benefits providers for the company (with permission from the employer).