Product Overview
Insperity’s 360° Retirement Integration eliminates manual work by sharing information between the Insperity Workforce Acceleration technology platform, isolved People Cloud, and your third-party retirement recordkeeper. This bidirectional integration sends deferred compensation and demographic information from isolved to your recordkeeper when payrolls are processed, and then updates benefit records in isolved when employees change their contributions using the recordkeeper’s technology platform.
While 360° Retirement Integration moves data between the Workforce Acceleration technology platform and your recordkeeper, it does not move funds. Insperity does not fund retirement accounts managed by third party recordkeepers. Only the Choice 401(k) plans from Insperity Retirement Services include retirement plan management and direct account funding with each payroll.
Integration Features
360° Retirement Integration for Workforce Acceleration includes:
Outbound data transmissions
isolved People Cloud -> deferred compensation recordkeeper
Employee and payroll data will be sent from the isolved People Cloud technology platform to your recordkeeper after each payroll has processed. If payroll is posted by approximately 5 PM Eastern, your recordkeeper should receive information the same day. The following information is included with outbound data transmissions:
- Employee demographics for eligible or participating employees, depending on your recordkeeper’s integration requirements
- Employee contributions withheld in the payroll (pretax and Roth contributions)
- Employer contributions included in the payroll (matches, % of wages, safe harbor, profit sharing, QNEC, or defined benefit contributions)
- Loan repayments withheld in the payroll
Inbound data transmissions
Deferred compensation recordkeeper -> isolved People Cloud
Information will be sent from your recordkeeper and automatically applied to employee deferred compensation benefit records in isolved People Cloud as changes are received.
- Contribution elections for new plan enrollments (flat or percentage pretax and Roth elections)
- Changes to contribution elections for existing participants (increases, decreases, terminating participation)
- Loans (new loan deductions, loan amount changes, or termination of loan withholding)
Supported Plans
Supported Deferred Compensation Plan Types
While 401(k) plans are the most common, 360° Retirement Integration can support other deferred compensation plan types if the third party recordkeeper allows file-based integration through secure file transfer (SFTP) or API.
Supported Third Party Recordkeepers
Insperity is working to add new third party retirement recordkeepers every day. For the most current list, contact your Customer Success Specialist.
More Information
For more tools to leverage Insperity Workforce Acceleration for retirement plan administration, see:
For more information about 360° Retirement Integration, contact your Insperity Customer Success Specialist.