Address: 468 Great Road (2A) Acton, MA 01720 | Phone: 978-263-5004 | Toll Free: 978-263-5004

401(k) Reporting

Payright Payroll Services, Inc was founded with the mission to meet the ever-changing Payroll and Human Resource needs for businesses of all sizes. With our Fully Integrated Retirement Solution, Automati(k) Process™, you can realize the following benefits:

  • Ease of administration- total hours spent on 401(k) administration decrease by more than half
  • Personnel cost savings as a result of the time savings from integration
  • Positive effect on performance, productivity, stress level and job satisfaction
  • Accuracy of processing and the avoidance of mistakes




Example of Potential Indirect Cost Savings Utilizing the Automati(k) Process™
 
Total Annual Salary of HR staff: $50,000
 
Payroll Frequency: Weekly
 
Administrative Activities for Retirement Plan and Payroll Activities Time Spent per payroll without Integration Time Spent per payroll with Integration
Reviewing Quarterly or Monthly Reports 20 8.6
Supplying Year end Census Data 20 10
Updating census 20 13.3
Submitting weekly contribution files 30 6
Creating a new retirement plan account 15 9.4
Updating deferral percentages/rates 15 3
Loan and Hardship administration 30 6
Calculating Employer Contributions 20 0
Total Minutes 170 56.3
 
Time Savings: 66.9%
Cost Savings: $59.21 per payroll (annual savings of $3,079.37)

For more information about the payroll solution that’s right for you, call (978) 263-5004