HR Services

RetireWell Administrators further enhances its TPA services by providing ancillary Human Resource services to allow plan providers the freedom to concentrate on their businesses by outsourcing plan maintenance responsibilities. Clients may choose from a range of services to ease their administrative burdens while achieving peace of mind that the processes are performed timely, accurately, and efficiently.

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Core Payroll Services

Payroll Uploads

This service allows for collection of the payroll file, per pay period, either from the plan sponsor or directly from the payroll vendor (certain access rights must be granted). The file is then formatted in accordance with the recordkeeper’s required specifications and uploaded to the recordkeeper’s system. The ACH is then authorized, and the client receives a confirmation of the process date and amount.

Payroll Plus

This service consists of our standard Payroll Upload services and also includes a per pay period employer calculation and investment of the match or profit-sharing contribution. Additionally, eligibility for the employer contribution is monitored.

Ancillary Services

Each of the following services can be bundled in a variety of different ways in order to best meet a client’s specific administrative needs. For more information, please contact us via the Request A Proposal link above or by completing the Request Proposal page.

HR Option One

This service ensures the plan is benefiting the intended participants and beneficiaries audience and allows for careful monitoring of the employee count.

Annual cash-outs will be processed for terminated employees with balances under $5,000. RetireWell Administrators will distribute required notices, including special tax notices and distribution options, to terminated employees and process either: 1) cash-outs or 2) automatic rollovers if no action is taken by the participant after 30 days.

Annual mailing of distribution forms to terminated employees with balances greater than $5,000 will be completed. Required special tax notices and options available are included.

HR Option Two

This service includes the services provided in HR Tier One PLUS:

Eligibility Calculations – Eligibility will be calculated 20 days prior to each enrollment date and a list provided to the plan sponsor. This service eliminates any risk of missing enrolling an employee on the date they are eligible to join the plan. Census files may be required to be provided depending on the recordkeeper. (Requires a minimum of 90 days of service and quarterly eligibility.)

Loan Default Notices – Loans will be reviewed every 60 days and notices sent to the plan sponsor of any in delinquent status. This will allow sponsors the opportunity to ensure repayments are being made timely to prevent loans from being defaulted.