Retirement Services

Powerful, fully payroll-integrated retirement savings products bring "best in class" services together to create a comprehensive package that provides peace of mind to both you and your employees. ADP's retirement savings products offer:

  • Timely and accurate record keeping
  • Well-respected investment managers
  • Professional enrollment services
  • Complete employee communications
  • Experienced trustee services
  • Flexible prototype plan document

ADP Retirement Services coordinates all of the primary elements of the plan for you because the payroll system is linked electronically to the 401(k) record keeping system. Financial information is transmitted directly to the trust accounting system and automatically routed to the investment managers.

Because the payroll and plan data processing systems are linked, our bundled solution offers advantages that go far beyond other plan:

  • Eliminates unnecessary interim steps, including reviewing and reconciling allocation reports and fund confirmation statements
  • Eliminates monthly fees for allocation reports/tapes, wire transfers/checks, and overnight delivery charges
  • Streamlines tasks with paperless processing for faster, more accurate data transfers
  • Eliminates the aggravation of reconciling and problem-solving among several different organizations, since you deal with only one vendor

ADP's Full-Service Retirement Savings Solution Includes...

  • Record keeping and Administration - As your plan record keeper, we maintain participants' records, change investment allocations, prepare quarterly participant statements, process disbursements, enroll new employees, and provide ongoing administrative services. You also receive monthly reports, which show all plan activity, both in hardcopy and through our top-rated Plan Sponsor Web site.

  • Investment Services - ADP has established a fund network and trading links with many well-recognized and respected investment management organizations to offer a broad range of options to your employees.

  • Trustee Services - The trustee is responsible for ownership and safekeeping of the plan assets and investing these assets as designated by the participants. Trusteeship provides an additional level of security for the participants and reduces the fiduciary liability of the company and its principals.

  • Employee Communications Support - Including Printed and Audio-Visual Materials, Enrollment Meetings and Transactional Participant Internet and VRS.

  • Plan Document - ADP offers comprehensive IRS prototype plan documents. We'll work together to help you choose from among several options to customize a plan to meet your company's needs. If you choose to match your employees' contributions, you can select your company's contribution levels, matching contributions and vesting schedule.

  • Compliance Reporting/Testing - We help ensure that your plan complies with government regulations, including IRS nondiscrimination and top-heavy testing.

  • Tax-Related Matters - ADP calculates withholding taxes on benefit disbursements and files IRS 1099-Rs with federal tax authorities. We also assist with the completion of the annual IRS Form 5500.