401(K) Connect – John Hancock

 

Things To Know About the 401(k) Connect Application

• During the configuration and testing phase, you will continue to update funding with your 401(k) Provider manually. Until testing is done, the automation will not take place and you are still responsible for updating your 401(k) funding with your provider.
• During Testing and Once Live, the Payroll Bridge generates funding reports to your 401(k) Provider on your Pay Date, not the day in which you process payroll.
• Once Live, any changes made to Employer Contributions are not reported via PayKonnect. You must still manually manage and update Employer Contribution changes within your TriNet payroll system.
• Once Live, if you have a 360-degree integration, changes to 401(k) elections will still be managed within your provider's system and will push into your TriNet Payroll System.
• Once Live, changes made within your providers' system will be pushed to your TriNet Payroll System every Saturday for any changes made the previous week.
• Once Live, changes made within your TriNet Payroll System to employee information will be generated and sent to your 401(k) Provider on your next Pay Date.
• Once Live on a 360 integration, manual deductions, and contributions will remain in your system until a change has been made in your provider's system and pushed to the TriNet payroll system.

 

Who can set up the 401(k) Integration?

To set up this integration, you will need to be a Full Company or Payroll Administrator in the TriNet system.

 

How can I set up the 401(k) Connect for the first time?

The steps are as follows:

1. TriNet client needs to initiate the 401(k)-integration and data sharing request through the 401(k) Connect tile on the TriNet HR Plus platform dashboard.
2. The TriNet Implementation team sends an email to the client to inform them to reach out to the 401(k) provider to establish a Payroll Bridge via Pay(k)onnect to their TriNet system.
3. The client company reaches out to the 401(k) provider to provide the welcome kit.
4. The Implementation team may send a request to the HR Plus customer to map their deductions and contributions into their payroll if needed.
5. The Implementation team will then process payroll data during a testing phase with the 401(k) provider.
6. The relevant provider will review the information and provide a data review email for the company to review for accuracy.
7. Once the testing phase has been completed and the client indicates it is accurate, the apps are connected, and the work queue is marked complete.

 

For Support

You can always reach out to our customer support team via this link: TriNet Customer Support