Companies who provide public employee retirement plans to their employees spend countless hours manually preparing reports. These reports must follow special rules and formatting required by the TPA (Third Party Administrator), be checked repeatedly for data, and be submitted in a timely manner.
Now retirement plan reporting is easy with the Insight e-Tools third-party retirement solution. Each pay period, Insight e-Tools automatically imports the necessary data from your company’s ADP payroll system. The data scrubbing tool reconciles the actual payroll data with the report rules and the supplemental data needed to make sure the file submitted to your TPA is clean and accurate. If errors or omissions are identified in the report file, Insight e-Tools provides an easy interface to correct the information prior to TPA submittal.
The end result is an error-free retirement report for your TPA that is prepared in minutes instead of hours.
Just imagine the time savings for a management company in charge of 10 or more retirement reports!
We are extremely pleased with our decision to purchase the Insight e-Tools CalPERS solution.