Using the InnoPay platform, Payment Solutions offers third-party administrators and plan sponsors a comprehensive, market-proven, SaaS-based solution that includes:
- Benefit Payments
- Tax Remittance
- Tax Reporting
- Print and Mail Fulfillment
- Customer Access to Online Tax Forms
With a suite of options available ranging from payment printing and fulfillment to fully outsourced Paying Agent Services, we can tailor the right solution to meet your expanding payment needs. For example, Payment Services is generating more than 6 million distribution payments each year and 10 million+ tax documents and fulfillment packages, all while meeting stringent service level standards for timeliness and accuracy.
Offering seamless integration with all major back-office systems, Payment Solutions provides a single consolidated process for state and federal withholding calculations, tax reporting, tax remittance, print and mail fulfillment of checks, confirmations and tax forms.
Plus, a state-of-the-art web portal designed specifically for participants in Defined Benefit plans, enabling them to make key information updates, view their activity or modify payment instructions, and change withholding instructions.