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How are other companies handling 401K and 401K Loans?

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edited Apr 30, 2023 5:20PM in Payroll and Global Payroll Interface (GPI) 1 comment

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Our 401K/Loans are set up as elements. We have issues with the elements not tracking the amounts and accrued balances. We also have loans stopping and going into default for the employees. We have heard we should have 401K set up as a benefit to fix our issues, but we are interested to see what other companies are doing. It is our thought that the system should be able to handle these with ease, and we have found it to be very manual and time consuming with our current setup.

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