Benefits Administration
We can help increase your efficiency by taking care of your retirement and premium only plans. Keep reading to find out how you can reduce the amount of time you dedicate to benefits administration, while raising employee satisfaction.
401(k) Plan Administration
Paycor offers a seamless and integrated retirement arrangement for the complicated tasks of 401(k) recordkeeping and administration. Reduce the amount of time you spend gathering data. Paycor ensures retirement information is automatically transferred from payroll records to retirement plan administration.
We Help our Plan Sponsors
- Tailor a plan to support your goals with the help of a design team of actuaries and ERISA professionals.
- Understand your fiduciary responsibilities with the help of a Retirement Plans Fiduciary Handbook. Our comprehensive guide includes a checklist of compliance requirements and a sample investment policy.
- Access online contributions and annual reporting through a secure website.
- Receive responsive, personalized service from a single-source contact.
- Provide a Quarterly Fund Performance Review that could be incorporated into the plan fiduciary’s established due diligence procedures.
Premium Only Plan (POP)
A Premium Only Plan (POP) is a way for employees to pay their portion of the group insurance premium on a pre-tax basis. It helps you and your employees save taxes. Your employees pay a portion of their group insurance premiums, and the premiums are deducted from their salaries before taxes are taken out. Then, with employee pre-tax income lowered, employers pay less employer-paid payroll taxes.
Implementing a Premium Only Plan is simple. As Plan Administrator, Paycor will keep you in compliance with IRS regulations by providing:
- Creation of Plan Documentation
- Summary Plan Description for your Employees
- Enrollment Forms for your Employees
- Non-discrimination Testing
Take advantage of pre-tax savings for you and your Employees.
Contact us today.