TSC offers several payroll data support solutions that can be designed to meet each employer’s specific needs. Whether it is through PaySmart by TSC payroll data support services or through our Payroll Integration Solutions, our goal is to help clients save time and simplify plan administration.
PaySmart by TSC helps employers deal with data sharing challenges among their payroll and retirement plan service providers. This payroll data support solution is customized to meet each employer’s specific needs based on the services provided by their payroll company and plan investment company. TSC coordinates with these service providers to help employers make the operation of their plan successful. Contact us to learn more about PaySmart by TSC.
Payroll Data Submission
- Monitor payroll calendar(s) to retrieve payroll information on each pay date
- Submit payroll data to investment company
- Facilitate changes to payroll information initiated on investment company website
- Assist with corrective payroll issues as appropriate
- Provide deposit confirmations when executed by TSC
401(k) Eligibility Reporting
- Plan entry date frequencies supported include monthly, quarterly, semi-annual, or annual
- Monitor payroll data each pay period for new and rehired employees
- Send plan sponsor and advisor a 401(k) eligibility report prior to each entry date
Full-Service Distribution Processing
- Monitor payroll data each pay period for participant terminations
- Send appropriate benefit distribution packages to terminated participants
Year-End Census Preparation
- Obtain payroll data necessary to complete year-end compliance testing directly from payroll company
Payroll Integration Solutions
TSC has teamed up with many leading payroll providers to offer a professionally-integrated retirement plan and payroll solution. Together with our selected partners, we are committed to bringing best-in-class services to our mutual clients. By integrating services, both TSC and our payroll partners are able to focus on the services that we each do best. As a result of this collaboration, our clients benefit by saving time, improving accuracy, and increasing efficiency. Contact us to find out if your payroll provider is included in our Payroll Integration Solutions.