| ADP's Benefit Fund Services will fully automate the remittance reporting process and electronically process all of your employer contributions. We will validate, process, distribute and interface with your internal systems and third party vendors (Bank, 401(k) and TPA's).
Benefit Fund Services offers the only automated process for 100% of your employers. We do this by offering a method of input for every size employer to remit:
- File import - Import a file from their current payroll system
- Direct Entry - Key data directly into the system
- Telephone Input - Let ADP's dedicated Service team call your employers on a pre-arranged schedule to collect data over the phone
After employers remit their data, they confirm the transaction for electronic processing. We interface daily with your Banking Partner and in-house systems to give you the most up to date information on your membership and contributions. In addition, the robust reporting of Benefit Fund Services pinpoints potential problems on a daily basis, so the fund staff can eliminate problems before they become liabilities.
Benefits of Using ADP's Benefit Fund Services:
- Data Integrity - All employer data is validated up front when it is entered, reducing back-end reconciliation while giving you "clean" data to run your organization
- All Collective Bargaining Agreements are automated, so employers pay exactly what they owe for each member
- Reduce exposure to fiduciary risk and losses to fund because you know weekly when an employer does not pay benefits
- Eliminate manual calculations, advance purchases of stamps, and clerical errors
- Shortens your accounts payable cycle and increases cash flow and float on funds
- Provides the Fund Staff with real-time access to employers fund processing
- A process every employer can utilize with their current payroll process
- Levels the "playing field" for employers bidding on contracts
- Creates fraud proof Confirmation statements to help ensure members get their benefits every payroll. Added check and balance to your remittance and shop steward reports.
- Robust analytic reporting capabilities to make your funds work pro-actively to reduce risks
- Employers recognize and trust the ADP name
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