Integrated 401(k) and Payroll
Simplify your Fidelity 401(k) Administration with our Integrated Solution
Our HR/Payroll solution is fully integrated with Fidelity's 401(k) plan, which significantly reduces your administrative burden, concern over plan compliance, and enables you to reduce the fiduciary risk associated with a 401(k) plan - so you can focus on making your business as productive as possible.
What does payroll integration do for your business?
- Reduces 401(k) plan administration – saving you time and money
- Enables you to reduce fiduciary risk
- Helps employees save more of every paycheck
How?
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Streamlines non-discrimination testing: Automatic data integration reduces your involvement in collecting data. Every January, HR Access sends your compensation file to the Fidelity 401(k) testing group. You simply review the test results, verify the previous year's data, and Fidelity files your 5500.
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Employee 401(k) contributions are automatically invested on payday without administrative intervention. That makes it seamless for you, and maximizes your employees earning potential as their money goes to work 5-7 days sooner.
- NetBenefits, Fidelity's self-service portal gives your employees the ability to make personal elections with no administrative or managerial involvement.