September 29, 2020
Paychex is now set up for PlanPremier Payroll Bridge
We’re pleased to announce that Paychex® can now transmit ready-to-process payroll contribution files directly to Capital Group, home of American Funds, on behalf of PlanPremier®-TPA plan sponsors.
This 180 degree Payroll Bridge feature can reduce the time and effort sponsors spend on processing payroll contributions.
Certain providers offer 360 degree capability, which allows Capital Group to send loan and deferral amounts directly to the payroll provider for processing. This saves the plan sponsor and/or TPA from having to process participant loan and deferral changes.
To see which payroll providers offer 180 or 360 degree Payroll Bridge capabilities, see the Payroll vendor network guide. This guide, generally updated quarterly, is available in the Resources section of this website — click RESOURCES near the top right of any page.