Benefits of Integrating 401(k) with Payroll
- Saves time and money for the QPPU (Quickbooks Payroll Pro User) by eliminating the need to manually enter data twice.
- Reduces errors by automating the transmission of contributions and collection of required data.
- Minimizes administrative tasks for you this integration makes it easy to track participant eligibility, enrollment, and loans. Any changes made by the employee are automatically sent to the payroll provider.
- Timely investment of employee 401(k) contributions are made because you can quickly and easily make the necessary retirement plan payroll deposits. Non-payroll integrated plans may run into DOL/IRS compliance issues with getting contributions in on time due to lack of efficient and automated payroll deposit processes.
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