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Average Ratings 18 Ratings
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Description
There is a limitless variety of payment types available, such as regular, hourly, salary, and overtime rates, with effective start and end dates for each pay rate. Payment structures can be configured to adhere to specific limits based on pay periods and year-to-date (YTD) calculations. Each employee can have an unlimited number of deductions applied, with the flexibility to set their frequency as monthly, annually, per pay period, or quarterly, while also adhering to limits based on pay periods, YTD, and lifetime deductions (LTD). The system is capable of calculating and collecting any arrears owed. Additionally, direct deposit options can be utilized for any deductions made. Retirement plans, including employer-sponsored 401K and 403B options, are fully supported, along with compliance for all federal, state, and local taxes, including Social Security and Medicare deductions. Furthermore, calculations for FUTA and state unemployment taxes are systematically managed. The platform features a table-driven definition for tracking entitlement accruals for vacation days, holidays, floaters, and other approved leaves, with automatic enrollment for employees based on qualifications determined by seniority or hire date. An extensive audit trail is maintained for all accrued benefits and the time taken related to LTD. The setup for all benefit plans, including medical, dental, and insurance, is also table-driven, ensuring that employer-paid benefits are automatically calculated and accurately reflected. This comprehensive approach ensures that both employees and employers have a clear understanding of their financial obligations and entitlements.
Description
Offering your employees a Slavic-401(k) plan will help you attract and retain top talent. It will also help you create a happier, more stable workforce. Happier employees stay with your company longer, which will allow you to grow your business. You can weigh your options between a standalone 401(k), or participation in a Multiple Employee Plan (MEP). An MEP plan can save you $6,000 to $10,000 annually in audit costs (an IRS requirement for businesses 100+). An MEP does not have an individual audit requirement for your business. It is also possible to outsource the administration and fiduciary responsibility to MEP sponsors, which saves time and money. Employers can face serious problems with 401k compliance and testing. You could face penalties and fines for not properly administering your plan. This can have a devastating effect on a small business.
API Access
Has API
No
API Access
Has API
No
Integrations
isolved
No
Pricing Details
No price information available.
Free Trial
No
Free Version
No
Pricing Details
No price information available.
Free Trial
No
Free Version
No
Deployment
Web-Based
No
On-Premises
No
iPhone App
No
iPad App
No
Android App
No
Windows
Yes
Mac
No
Linux
No
Chromebook
No
Deployment
Web-Based
Yes
On-Premises
No
iPhone App
No
iPad App
No
Android App
No
Windows
No
Mac
No
Linux
No
Chromebook
No
Customer Support
Business Hours
Yes
Live Rep (24/7)
No
Online Support
Yes
Customer Support
Business Hours
Yes
Live Rep (24/7)
No
Online Support
Yes
Types of Training
Training Docs
Yes
Webinars
No
Live Training (Online)
No
In Person
Yes
Types of Training
Training Docs
Yes
Webinars
No
Live Training (Online)
No
In Person
No
Vendor Details
Company Name
EmpowerFinancials
Country
United States
Website
www.empowerfin.com
Vendor Details
Company Name
Slavic401k
Founded
1995
Country
United States
Website
www.slavic401k.com/employers.html
Product Features
Payroll
401(k) Tracking
Yes
Attendance Management
No
Benefits Management
Yes
Check Printing
Yes
Compensation Management
No
Deductions Management
Yes
Direct Deposit
Yes
Multi-Country
No
Multi-State
No
Reporting/Analytics
Yes
Self Service Portal
No
Tax Compliance
No
Vacation / Leave Tracking
No
W-2 and 1099 Preparation
Yes
Wage Garnishment
No
