Because your payments are calculated on actual payroll, you pay no upfront deposit.
The benefits of Worker’s Comp Connect include:
- Improved Cash Flow
- Payments calculated on actual payroll
- Accurate, timely payments
- No check writing
- No monthly billing fees
Retirement Plan Reporting with 401(k) Connect
Tracking and submitting employees’ 401(k) contributions can be time-consuming and tedious. California Payroll offers 401(k) Connect, a service that integrates payroll and 401(k) to streamline the data communications and fund transfers for your retirement solution. Data exchanges are secure and take place automatically, so there is less lag time between obtaining and processing participant data. The result: Less work for you and more time to spend on your business.
Here’s how it works:
- The 401(k) Connect process starts by confirming that the 401(k) provider is part of our 401(k) Connect program.
- The employer requests & authorizes 401(k) Connect with their 401(k) provider.
- The employer sets up a 401(k) deduction code in their payroll system.
- The employer submits their payroll to California Payroll.
- After payroll is processed, on a pre-scheduled basis, California Payroll sends a file with the employer’s employees’ contributions to your approved 401(k) services provider.
- On receipt of the file, the 401(k) provider will debit the 401(k) funds directly from the employer’s account.
California Payroll can work with your existing retirement services team to enhance your 401(k) service. Or, if you are looking to implement a new 401(k) solution or change your existing one, we can refer you to our network of premium third-party administrators, brokers and retirement services provider.
The State of California recently launched the CalSavers Retirement Savings Program, which is a workplace retirement plan for all savers who do not already have one in place.
To assist companies facilitating CalSavers, California Payroll released its CalSavers-Connect service to help you. California Payroll will automatically submit the employee payroll deduction amounts to the State CalSavers program every pay period.
It is mandated that all California employers with five or more employees either offer a retirement savings vehicle or facilitate their employees’ access to CalSavers.
If an employer does have a qualifying retirement plan it does not have to participate. These employers may allow or choose not to allow the deduction and send the information to CalSavers.
If an employer does not already have retirement options available, California Payroll can help you set up CalSavers or any IRA retirement plan.
Custom Report Writing
Do you have a specific report or information you need? The system is set up with over 150 pre-built reports. If you can’t find it, we can show you how to build your own, or we can build it for you!
California Payroll offers an entire selection of payroll products to not only save administrative time and effort, but also offer ease and convenience to your employees.
California Payroll’s new Early Wage Access & Financial Wellness features allow your employees to use their already earned wages to cover necessary expenses early in the pay period, so that they don’t have to wait until payday to pay bills or buy groceries.
Why offer Early Wage Access?
- 70% of employees are financially stressed
- 52% of employees are unable to cover a $400 emergency
- 80% of employers state that financial stress is hurting employee performance, costing half a trillion dollars annually.
Employers providing Early Wage Access & Financial Wellness programs to their employees can help improve employees’ financial health, often leading to better work performance.
To learn more about additional details and benefits of this program, check out our Early Wage Access page.