Toast

Updated October 11, 2024 16:21

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.

Toast 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.

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 saver and employer contributions to the plan, and automatically send your savers’ selected deferral elections from their Vestwell portal to your payroll provider.

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:

Plans that do not have an established recurring pay schedule setup in both Vestwell and the payroll system.
Plans that do not use the same payroll provider for all pay group(s).
Plans that have limitations preventing each pay group from being integrated.
Eligibility rules that exclude certain classes of employees, types of compensation, or 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."

How Do I Initiate My Integration Setup?

Please review this link for more details on your Toast integration.

Let your Vestwell Representative know that you'd like to integrate. From there, the Vestwell team will work with Toast to set up your integration. 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.

Please note that until the integration is activated, contribution uploads into the Vestwell portal will be required until our team has notified you that the integration can begin.

*Converting to Vestwell from another provider? Click here for additional resources.

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:

Loans

Set up and maintain retirement loans within your payroll system.
Reach out to the Toast team at retirement-team@toasttab.com to set up any loans. When reaching out, include the saver’s name, the per pay period amount, & the total repayment amount.
Learn more about loans here.

Discretionary and/or Profit-Sharing Contributions

Set up and maintain non-mandatory employer contributions in your payroll system.
Reach out to the Toast team at retirement-team@toasttab.com to set up any non-mandatory employer contributions in your payroll system.
Submit non-mandatory employer contributions through your Vestwell portal using an off-cycle upload. Learn how to submit an off-cycle contribution here.

Mandatory Employer Contributions

Maintain & submit mandatory employer contributions that are on a frequency other than on a per-pay period basis using an off-cycle upload. Learn more about off-cycle contributions here.

Pay Groups

Make sure any pay groups in your payroll system are also set up at Vestwell and vice versa. These pay groups in the Vestwell system should be named according to your Toast company codes.
To edit a pay group name or set up new pay groups, please see How to add or change a pay group in your Vestwell account before your first pay date.
If you are removing a pay group from your payroll system, please reach out to clientsuccess@vestwell.com.
The number of pay groups or companies in your payroll system may affect your plan’s integration eligibility.

Saver Status Changes - Payroll System

Make updates in your payroll system when savers are hired, terminated, or re-hired. Include a specific date when making these status changes in your payroll system. Read more about updating saver status in Toast Payroll here.
If a terminated saver’s last payroll is processed before his or her termination date is entered into Toast Payroll, please ensure we have received their date of termination. You can easily update active saver’s data at any time by updating the saver data directly in your Employer Portal by following the instructions outlined here: Employees Tab.
Please note that once the saver has been marked as "terminated," you will no longer be able to update saver data and the saver will need to update their information through their Saver portal.

Saver 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.
On an ongoing basis, employers need to make sure the following personal information is completed in each saver’s Personal Profile within the Toast Payroll system: Date of Birth, Social Security Number, Primary Address. Read more about updating saver personal information in Toast Payroll here.
The absence of any of these fields will cause your payroll integration to fail. In order to complete the integration, savers with missing information will be removed from that payroll date, temporarily until their information is updated. This is important to ensure that your plan is compliant.

Pay Frequency/Schedule Changes

Report any pay frequency or pay schedule changes to your Vestwell representative to ensure there is no delay in processing your payroll files upon making this change in your payroll system.

Negative Contributions/Corrections

Negative contributions or corrections are not able to be processed through the integration. For assistance with negative contributions or corrections, please contact our Employer Services team by emailing clientsuccess@vestwell.com.

Review Payroll Data

We rely on you to provide us with correct, updated, and complete data about your savers regardless of whether we receive that data directly from you or your payroll provider. Regular audits and spot checks of the data provided will help you quickly identify and rectify any discrepancies.
We recommend ensuring accuracy of the Plan Contact Info on your Vestwell employer portal as an email will be sent to notify you of any discrepancies. Visit Updating your Company Information to keep this up to date!

What Does Vestwell Handle for Me If My Plan Has an Active Payroll Integration?

Payroll Codes

Vestwell will work with your payroll provider, Toast, to set up and maintain certain payroll codes within your payroll system. Because Toast manages the codes, do not change this information.

Pre-Tax 401(k)
Roth 401(k)
Per pay-period fixed employer contribution

Saver Deferrals - First Integrated Payroll

The Friday prior to your first integrated pay date with Vestwell, we will use the saver deferral rates in the Vestwell portal to set saver elections in your payroll system.
If payroll is opened in Toast prior to elections being updated, they will be reflected on the following payroll, not the open payroll.

Saver Deferral Updates

We will communicate any deferral update requests to your payroll system each Thursday. If payroll is opened in Toast prior to elections being updated, they will be reflected on the following payroll, not the open payroll.
Savers may not see this reflected in their next few paychecks, as it could take time for this update to be reflected.
If your plan has an auto-enrollment feature, the same guidelines above apply. Read more about auto-enrollment here.

Savers Status Changes - Vestwell Portal

When you add, rehire, or terminate savers in your payroll system, the changes will be reflected in the Vestwell portal one business day after the next pay date.

Processing contributions

Process saver deferrals and employer contributions, which are maintained by the integration shortly after you run payroll in your payroll system.
If you process your payroll early, Vestwell will never process the contributions file before the pay date.
Off-cycle contributions processed in your payroll system will come through the integration & reflect in your employer portal after the pay date.

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

Your payroll provider may charge fees in conjunction with the integration. Please check with your Toast Payroll representative for more specific details. Vestwell will not charge you to facilitate this integration.

What if I Amend My Vestwell Plan or Change the Frequency of My Employer Contributions?

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.

If you have changed the frequency of funding your employer contribution, the Vestwell team will work with your payroll provider to make any necessary updates.

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.