Securian Automates 401(k) Changes

Securian Financial Group is collaborating with payroll providers to offer plan sponsors an automated 401(k) contribution rate and loan payment change service.

On an automated basis, Securian will generate an employee contribution rate and loan payment change file for the plan sponsor’s payroll provider. The payroll provider will pick up the file and automatically make the changes without client involvement—saving the plan sponsor time and hassle.

All Securian retirement plan clients with a willing payroll provider can implement the service. “We are excited to offer another time saving service at no additional cost to our clients,” says Ted Schmelzle, Securian’s director of plan sponsor services.

Other key administrative outsourcing services Securian offers at no additional cost to its plan sponsor clients include ACH loan payments, enhanced distribution services, contribution rate management, terminated employee tracking, required notices management and audit support.