Offering 401k tax deferred retirement savings plans is a smart investment in your com-pany and your employees. Employees take advantage of tax deferred savings, which are deducted from their paycheck and invested for them into mutual funds, bonds, money market accounts, and other savings vehicles by the 401k plan administrator.
Along with offering the 401k benefit, you need to manage employee contributions and loans. With every payroll for every company, you must submit employee contributions to your plan administrator with the specific data and in the format they require. Typical information includes HR personnel data, year-to-date hours, gross salary, employee contributions, company match, and 401k loan information.
With Ps 401k Export, creating 401k data files from Sage Abra Payroll is easy and automatic. Setup screens let you define 401k benefit codes, the company match, up to nine 401k deduction codes, and whether the contribution is pre- or post-tax. You can select Abra deduction codes for up to two loans, and you can filter earning codes that should not be reported.
Select the company and Ps 401k Export automatically retrieves the required information from Abra Payroll. It then produces an output file that you name and save any-where on your network. Perryman Software works with your 401k plan administrator so the file created is in the specific format they require. Email or upload the file and you are done.
Let Perryman Software help you streamline your 401k plan management. With Ps 401k Export, it is fast, easy, and efficient.
Human Resource Management, Payroll, Benefits Management