Payroll Service Solutions (PSS)

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.

Payroll Service Solutions offers a 360° level of integration.

This guide will help you set up your integration as well as help you understand your specific responsibilities for the proper administration and submission of payroll files.

1. How Does My Integration Work?
2. How Do I Initiate My Integration Setup?
3. What Are my Responsibilities If My Plan Has an Active Payroll Integration? 
4. What Does Vestwell Handle for Me If My Plan Has an Active Payroll Integration?
5. Will My Payroll Provider Charge Me Fees to Set Up and/or Maintain My Payroll Integration? 
6. How Do I Disconnect My Integration?
7. Are There Any Reasons Why My Plan Might Not Be Eligible for an Integration? 

How Does My Integration Work?

Your integration is a 360° Automated Integration. This is a two-way integration in which Vestwell will automatically receive certain information about your plan and participants from your payroll system, process employee and employer contributions to the plan, and automatically send your employees’ selected deferral elections from their Vestwell portal to your payroll provider.

How Do I Initiate My Integration Setup?

Let your Vestwell Representative know that you'd like to integrate. From there, you will work with our Payroll Integrations Specialist, who will guide you through the rest of the setup process. There may be a few action items for you to complete along the way--prompt completion of these action items is crucial to ensure a timely setup!

What Are My Responsibilities?  

Our ability to successfully process your payroll files and administer your plan depends on you! It is your responsibility to:

• Loans
  • Set up and maintain retirement loans within your payroll system 
• Discretionary and/or Profit-Sharing Contributions 
  • Set up and maintain annual and/or quarterly non-mandatory company contributions within your payroll system, and upload these contributions through your Vestwell portal. 
• Mandatory Employer Contributions
  • Set up and maintain mandatory employer contributions that are  on a frequency other than on a per pay period basis
• Pay Groups 
  • 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.”
• Employee Status Changes - Payroll System
  • 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 - including 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? 

• Payroll Codes
  • Set up and maintain certain payroll codes within your payroll system.  Because Vestwell manages the codes, do not change this information unless expressly told to do so by your Vestwell Representative. 
    • Pre-Tax 401(k) $
    • Pre-Tax 401(k) %
    • Roth 401(k) $
    • Roth 401(k) %
    • Per pay period Safe Harbor employer contribution
• Employee Deferrals - First Payroll
  • Four business days prior to your first pay date with Vestwell, we will use the employee deferral rates in the Vestwell portal to set employee elections in your payroll system.
• Employee Deferral Updates
  • Ongoing deferral changes made in the Vestwell portal by eligible employees will be set in your payroll system within two business days.  
  • If your plan has an auto-enrollment feature, the same guidelines above apply. 
• Employee Status Changes - Vestwell Portal
  • When you add, rehire or terminate employees in your payroll system, the changes will be reflected in the Vestwell portal one business day after the next pay date. 
• Processing Contributions
  • Process employee deferrals and employer contributions which are maintained by the integration shortly after you run payroll in your payroll system. Even if you process your payroll early, Vestwell will never process the contributions file before the actual pay date. 

Will PSS Charge Me Fees to Set Up and/or Maintain My Payroll Integration?

No, PSS 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.

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.