As your retirement plan grows in participants and assets, adding the right plan enhancements may provide easier administration, more personalized tools and greater plan efficiency.
Save time and provide a better experience
See these key features that can transform the way you manage your company’s PlanPremier® retirement plan.
Plan administration
Use these optional features to simplify tasks, monitor activity and be responsive.
- Eligibility tracking identifies who’s qualified to participate and sends enrollment materials automatically to eligible employees.
- Online enrollment reduces printed forms and manual data entry. Employees can enroll in the retirement plan online or by phone.
- Quick enrollment gets employees enlisted with a single click using the plan’s preset salary deferral rate and default investment option.
- Automatic enrollment enlists employees when they become eligible at a default contribution rate and investment option (unless they opt out).
- Automatic deferral escalation can be included with automatic enrollment to increase salary deferrals annually by a preset amount (unless participants opt out).
- Deferral tracking notifies the plan sponsor or payroll provider when participants set or change their deferral rates.
- Beneficiary tracking maintains beneficiary information online and identifies those without a designated beneficiary.
- Plan notice delivery provides an easy solution to deliver plan disclosures and notices to employees (additional fees may apply).
- Automated mandatory distribution simplifies small balance distributions by handling the process for you (additional fees may apply).
Payroll processing
Reduce time and effort with the optional Payroll Bridge service.
- Secure connection allows payroll providers to send ready-to-process payroll contribution files directly to Capital Group.
- Data bridge eliminates the need for separate batch entries by the plan sponsor.
- Validation and approval steps keep the plan sponsor in control.
- Accurate employee data supports online plan analytics and helps the sponsor manage plan health.
- Two-way file transfer between payroll providers and Capital Group enables seamless loan and deferral processing (available with a limited number of payroll providers).
Payroll Bridge is available with a wide range of payroll providers approved to work with Capital Group, including ADP and Ceridian.
To learn more, call us at (877) 872-5159.