Take the hassles out of defined contribution
We track every penny. Our straightforward accounting module allows you to offer defined contribution options easily without creating extra work for your employer clients.
How it works
- The employer enters employee contribution schedules and eligibility information
- The accounting module manages contributions, eligibility, payroll deductions and all plan accounting
- Employees can take full advantage of the marketplace’s flexibility – such as purchasing options that exceed their contribution – without any accounting challenges for the employer
Key benefits
- Comprehensively tracks contributions, premiums and unused contributions on a monthly and annual basis
- Drill down to view employee-level data
- Supports master and multi-location tracking
- High degree of customization, such as ability to set preferred payroll timing and create employee classes with varying contributions
- Convenient benefit payment options via payroll and ACH
- Ready-made reports and analysis tools at the employer’s fingertips (e.g., see what unused funds are in specific employees’ accounts)
- Integrates with other spending accounts (HRA, HSA, FSA)
Take the hassles out of defined contribution
At the employer level, accounting data are summarized monthly
Monthly data are broken down by employee
Employee contributions can be managed on an individual basis
Premiums exceeding employer contributions are deducted from employees' pay
