Tracking and submitting employee 401k contributions can be time-consuming and tedious. California Payroll’s retirement services solution, 401k Connect, streamlines the process by handling data communications and fund transfers on your behalf.
Here’s how it works:
Submit your payroll to California Payroll.
After your payroll is processed, California Payroll sends a file with your employees’ contributions to your approved 401k services provider.
On receipt of your file, your 401k provider debits the 401k funds from your account.
California Payroll can work with your existing retirement services team to enhance your 401k service. Or, if you are looking to implement a 401k solution or change your existing one, we can refer you to our network of premium third-party administrators, brokers and retirement services provider