Why Do Payroll Delays Occur and How Can They Be Voided? (For Advisors)

Payroll issues occur for a number of reasons, some of which cannot be as quickly resolved as others. However, there are ways to avoid payroll delays. 

Common reasons for payroll delays

Some of the most common reasons payroll delays occur are:

  • Incomplete employee records
  • Running payroll late
  • Invalid bank information
  • Pay group changes that have not been communicated to Vestwell 
  • Unexpected system delays

How to avoid payroll delays

Most payroll mistakes can be avoided with proper planning.

To avoid delays, consider:

  • Make sure census data is accurate in the payroll system as well as on the file submitted to Vestwell (i.e., updated employee information, new hires, terminations, etc.) To learn more about formatting and updating your census, please click here.
  • Making sure to double-check payroll data
  • Making sure bank information is current and up to date on the Vestwell system (you can check bank information on your sponsor portal)
  • Making sure we have all active pay groups correctly set up (this can be viewed under the sponsors portal). To learn more about pay groups, please click here.