Since our platform has an integration with your payroll provider, we can take a lot of work off your plate regarding the processing of your payroll files through automation (yay!). This guide will help you set up your integration as well as understand your specific responsibilities for the proper submission of payroll files. Even though your payroll provider is integrated with our platform, all Plan Sponsors have ongoing requirements to make sure the content is correct.
How do I initiate my integration setup?
Email your Insperity payroll specialist directly and CC payrollintegrations@vestwell.com requesting to set up an integration with Vestwell. Please remember to specify the pay date the integration should begin on.
Are there any reasons why my plan might not be eligible for an integration?
There are some plan design features that currently prohibit the use of payroll integration, including:
- Eligibility rules that exclude certain classes of employees
- Eligibility rules that exclude certain types of compensation
- Eligibility rules that exclude certain types of hours worked
- Plans with per pay period non-mandatory employer contributions
- Plans that allow after-tax contributions (only be available if your plan uses a Third Party Administrator). Note: After-Tax and Roth contributions are not the same; please see our article “Participant Contribution Types: Differences between Pre-tax, Roth, and After-tax”
If your plan has been amended or if you are considering an amendment to your original plan documents, please inform your Vestwell Representative to understand what actions on your part will be required to submit and process your payroll files correctly.
How does my integration work?
Your integration is a 180° Automated Integration. This is a one-way integration in which Vestwell will automatically receive certain information about your plan and participants from your payroll system and process employee and employer contributions to the plan.
What are my responsibilities if my plan has an active payroll integration?
Our ability to successfully process your payroll files and administer your plan depends on you! It is your responsibility to:
- Payroll Codes
- Set up and maintain these deduction/earnings codes within your payroll system.
- Pre-Tax 401(k) $
- Pre-Tax 401(k) %
- Roth 401(k) $
- Roth 401(k) %
- Employer Contribution(s)
- Retirement loans
- Set up and maintain these deduction/earnings codes within your payroll system.
- Employee Deferrals
- Maintain employee deferral rates in your payroll system. Deferral changes made by employees
- Pay Groups
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- Make sure any pay groups in your payroll system are also set up at Vestwell and vice versa. To edit a pay group name or set up new playgroups please see “How to add or change a pay group in your Vestwell account.”
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- Employee Status Changes
- Make updates in your payroll system when employees are hired, terminated, or re-hired, etc.
- Employee Personal Information
- Maintain complete, accurate, and up-to-date personal information within your payroll system. This includes date of birth, social security number, and email address.
- Pay Frequency/Schedule Changes
- Report any pay frequency or pay schedule changes to Vestwell
- Review Payroll Data
- We rely on you to provide us with correct, updated, and complete data about your employees regardless of whether we receive that data directly from you or from your payroll provider. Regular audits and spot checks of the data provided to us will help you quickly identify and rectify any discrepancies.
What does Vestwell handle for me if my plan has an active payroll integration?
- Processing Contributions
- Vestwell will process employee deferrals and employer contributions maintained by the integration shortly after you run payroll in your payroll system. However, Vestwell will never process a payroll file before the pay date.
- Employee Status Changes
- When you add, rehire or terminate employees in your payroll system, the changes will be reflected in the Vestwell portal within 1-2 business days after the next pay date.
Will Insperity charge me any fees to set up and/or maintain my payroll integration?
No, Insperity does not charge any fees at this time.
How do I disconnect my integration?
If you change payroll providers, it is your responsibility to inform us so that we can disconnect your integration and assess whether integration with a different payroll provider is available. Please reach out to your Vestwell Representative, and we will assist you.