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.
Solex offers either a 180° or 360° automated payroll 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?
- How Do I Initiate My Integration Setup?
- Will My Payroll Provider Charge Me Fees to Set Up and/or Maintain My Payroll Integration?
- Are There Any Reasons Why My Plan Might Not Be Eligible for an Integration?
How Does My Integration Work?
Vestwell has partnered with Pay(k)onnect, a payroll data aggregator, to enable payroll integrations with over 80 different payroll providers.
Solex offers either a 180° or 360° automated payroll integration. Please visitPayroll Integrations Descriptions & Responsibilitiesto determine which integration will work best for your plan!
How Do I Initiate My Integration Setup?
Email your Solex payroll specialist requesting to use the integration with Vestwell. Your Solex representative will work with you to setup your Vestwell plan in the payroll system. Be sure to specify the expected first integrated pay date. *Please note, 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.
Will Solex Charge Me Fees to Set Up and/or Maintain My Payroll Integration?
Solex may charge fees in conjunction with the integration. Please check with your Solex representative for more specific details.
Vestwell will not charge you to facilitate this integration.
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.