ERISA SMART

SMART 360 Payroll Bridge

Authorize ACH funding each pay period for participant deferrals
Submit 401(k) deductions, employer contributions and loan repayments to recordkeeper (each pay period)
Submit full census data file to record‐keeper (each pay period) on behalf of the Plan Sponsor
Submit annual census data file to 401k) provider and/or TPA for the purpose of compliance testing annually

Setup newly eligible 401(k) participants including auto enrollment and Establish 401(k) deductions each plan entry date
Update deferral rate changes and process modifications in accordance with plan provisions including auto‐ enrollment and auto‐escalation
Establish loan payments for new or refinanced loans and discontinue any paid loans each pay period and update payroll to reflect hardship distribution and rules.
Verify match formulas and annual compensation limits within payroll system to ensure they are consistent with the plan document and federal regulations