Common Remitter System
CRS provides a one-stop shop for your 403(b) plan sponsor clients that allow multiple asset managers in their plan. Using CRS, participants make online enrollment and asset manager selections and the data is captured, consolidated, and communicated back to your client’s payroll system. Each payroll period, CRS validates consolidates participant contributions, enforces federal contribution limits and applies the participant’s source and vendor elections and are output in industry standard file formats to the plan’s asset managers.
File transfer notifications and reporting to plan sponsors and asset managers keep all parties informed on participant changes, forecasted compliance limit problems, newly eligible employees and more.
Common Remitter System Offers:
- A consolidated process for managing 403(b) plans with multiple asset managers
- Automate compliance with new 403(b) regulations
- Provide a competitive and cost saving advantage with administering 403(b) plans
- A flexible framework that can be seamlessly integrated with your core record keeping systems
- Secure authentication and data transfer to in-house enrollment applications
- Robust asset manager, plan, contact portals controlled by configurable role-based entitlements