ADP Retirement Services Launches Simplified 5500 Compliance Reporting Process

ROSELAND, N.J., July 15, 2020

As part of the company's proactive support, ADP Retirement Services is introducing Simplified 5500 Compliance Reporting Process, the second phase of its enhanced Compliance Dashboard, developed to streamline cumbersome reporting requirements. More information can be found here.

Building upon its initial launch in January, ADP has expanded the dashboard functionality by introducing an improved Form 5500 filing process, which includes pre-populating plan data and company information as well as delivering a guided, online filing experience to save businesses time and help reduce potential errors. 

"Recognizin­g that retirement plan compliance can be technical, frustrating and time-consuming for plan administrators, we aimed to create something that is easy and inutitive," said Kristin Andreski, senior vice president and general manager of ADP Retirement Services.  "We specifically added these enhancements to the Compliance Platform to provide businesses the tools they need to reduce time spent on administrative tasks so they can focus on managing their business not their retirement plan."  

In the second phase of this rollout, ADP clients can now access an intuitive dashboard that simplifies the work associated with Form 5500 filing by:

• Reviewing and updating business and plan data
• Reviewing financial summary and participant detail
• Receiving notifications of a filing error and/or successful submission
• Accessing useful guides and other helpful resources

"Now more than ever, workplace benefits are critical to protecting workers from new threats while providing financial security," Andreski added.  "As a company that strives to improve client interactions, we've enriched our platform in ways that allow users to seamlessly create retirement plans that help workers save for a better tomorrow."