ROSELAND, N.J., July 15, 2020 /PRNewswire/ -- As both large and
small business owners across the country continue to face the
challenges presented by the global pandemic, many are beginning to
realize that they lack either the time or resources to focus on
Human Resources and benefits-related administrative tasks. As
businesses continue to think about the economy as a whole, the need
to reassess, recommit to and rebuild financial wellness is more
crucial than ever. Through new solutions and trustworthy
information, ADP, a leading global technology company providing
human capital management (HCM) solutions, is dedicated to helping
businesses and individuals navigate compliance amid a rapidly
changing landscape—which includes reevaluating benefits needs and
rebuilding workers' financial well-being.
![](https://mma.prnewswire.com/media/1214609/5500_Compliance.jpg)
As part of the company's proactive support, ADP Retirement
Services is introducing Simplified 5500 Compliance Reporting
Process, the second phase of its enhanced Compliance Dashboard,
developed to streamline cumbersome reporting requirements. More
information can be found here.
Building upon its initial launch in January, ADP has expanded
the dashboard functionality by introducing an improved Form 5500
filing process, which includes pre-populating plan data and company
information as well as delivering a guided, online filing
experience to save businesses time and help reduce potential
errors.
"Recognizing that retirement plan compliance can be technical,
frustrating and time-consuming for plan administrators, we aimed to
create something that is easy and inutitive," said Kristin Andreski, senior vice president and
general manager of ADP Retirement Services. "We specifically
added these enhancements to the Compliance Platform to provide
businesses the tools they need to reduce time spent on
administrative tasks so they can focus on managing their business
not their retirement plan."
In the second phase of this rollout, ADP clients can now access
an intuitive dashboard that simplifies the work associated with
Form 5500 filing by:
- Reviewing and updating business and plan data
- Reviewing financial summary and participant detail
- Receiving notifications of a filing error and/or successful
submission
- Accessing useful guides and other helpful resources
"Now more than ever, workplace benefits are critical to
protecting workers from new threats while providing financial
security," Andreski added. "As a company that strives to
improve client interactions, we've enriched our platform in ways
that allow users to seamlessly create retirement plans that help
workers save for a better tomorrow."
Simplified 5500 Compliance Platform marks the second major
compliance component available from ADP this year. With businesses
and employees facing unprecedented challenges as a result of
COVID-19, ADP has vigorously developed technology and plan
solutions that streamline administration for business owners and
cut through clutter for employees by delivering personalized,
guided experiences to help simplify saving for retirement. We are
committed to transforming the retirement experience through
innovation and ongoing technology investments that help guide
businesses and employees toward sound retirement planning
decisions. Through the new rollout of offerings, ADP is a helping
hand for business and individuals to reassess benefits needs and
recommit to helping workers rebuild their financial well-being—for
today and tomorrow.
For more information about ADP's Retirement Service offerings
please visit www.adp.com.
About ADP (NASDAQ: ADP)
Designing better ways to work through cutting-edge products,
premium services and exceptional experiences that enable people to
reach their full potential. HR, Talent, Time Management,
Benefits, and Payroll. Informed by data and designed for
people. Learn more at ADP.com
ADP, the ADP logo, Always Designing for People and ADP
Research Institute are registered trademarks of ADP, Inc.. All
other marks are the property of their respective owners.
Copyright © 2020 ADP, Inc. All rights reserved.
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SOURCE ADP, Inc.