Payroll & 401(k) Integration

Payroll, HR & 401(k): Integration Consulting 

Glover Park Wealth consults with your company HR, accounting, and finance departments on putting together a 360 degree fully integrated payroll and 401(k) plan to make the administration and management of the plan as easy as possible for our retirement plan corporate clients.

Record Keeping Integration

Example of 360-degree 401(k) integration

• Retirement plan participants can adjust their 401(k)-retirement plan contribution paycheck deferral percentages.

• Participants can elect to take a loan out against their 401(k) assets and have it paid back over time through payroll deductions.

• Hardship Withdrawals

• Roth 401(k) elections or deferrals

Plan Administrator 

The participants change in contribution deferral percentage will be send to the plan administrator.

Payroll System

The new contribution or deferral percentages are automatically updated in the payroll providers database and the next paycheck for the participant will reflect the updated deferral percentage the participant elected to change in the recordkeeping system.

360 Degree Payroll Integration 

The participants new contribution or deferral rate is now automatically synced between the 401(k)-retirement plan recordkeeper and payroll system.

This requires no manual data input from the company HR department as the plan is 360 degrees fully integrated.