Products April 1, 2003

ADP Launches Mid-Market Deferred Comp Program

April 1, 2003 (PLANSPONSOR.com) - ADP Employer Services' Executive Deferred Compensation (EDC) Group has introduced a mid-market company deferred compensation program.
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ADP’s Executive Deferred Compensation services range from basic record-keeping, with monthly plan valuations and quarterly participant statements, to full administrative services that include human resources outsourcing, providing daily plan valuation, customer service, reporting, and coordination with trustee services, according to the firm.   In addition to the payroll and 401(k) interfaces, ADP’s EDC program also offers plan document assistance, trustee services, fund choices, and access to customer service representative.

ADP’s EDC Web site also allows executive participants online access to individual account and plan information, including plan documents, transaction history, and current account balances. Annual enrollment is conducted on-line. 

Nonqualified plans allow these high-level participants to defer current compensation, including bonus pay, in amounts beyond the contribution limits imposed in qualified plans such as 401(k).   More information can be found at  http://www.adp401k.com .

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