Flexible Payroll Processing

With the number of investment choices available today, your payroll department could easily be overwhelmed by the administrative burden of writing and tracking checks to numerous mutual fund and insurance companies. ADSERV can help you simplify this process and reduce your workload—you need only write one check and we will forward the employees’ contributions to the appropriate investment companies. Additionally, our prompt remittance processing procedures expedite the investment of participants’ contributions—all transactions are completed within one business day of receipt. Upon completion, an invoice receipt is forwarded to you as proof your check has been received and your employees’ contributions have been processed.

 

Transmission of Data

Our unique compliance and common remitter billing system, which includes the calculation and electronic transfer of employee contributions, relieves you of the burdens and liabilities associated with administering your retirement plan. ADSERV’s automated systems ensure that the remittance of contributions is timely and efficient. Contribution information may be sent by e-mail or wire.

 

Processing Capabilities

ADSERV was one of the first plan administrators to invest in Optical Imaging. This state-of-the-art technology enables us to file and retrieve imaged documents on our mainframe computer, allowing for faster access to documents, greater filing capacity, increased organization and efficiency, reduction in duplication costs and the ability to maintain the integrity of files permanently. Additionally, this technology simplifies the record-keeping for MAC calculation worksheets. Furthermore, ADSERV’s quality control procedures ensure accurate records and prompt resolution of input errors.

 

Recordkeeping and Reporting

ADSERV’s extensive databases contain all the vital contribution and transaction information you may need from time to time, enabling us to generate up-to-date, comprehensive reports customized to meet your specific needs. For example, our Employee Contribution Report provides a current detailed accounting of all participating employee’s activities. Employers receive a comprehensive, year-end Summary Annual Statement that provides a complete plan breakdown on each participant account. Employers participating in Legend's TSA plan may also access their bills and make changes to participant contributions online.

Additionally, in the event of an IRS audit, ADSERV will provide full support and cooperation in supplying you with the necessary data.