Employer Bulletin: Your Plan Administration Resource

Help Increase Plan Participation with Expanded EZLink Features

As previously communicated, in October 2020 we added the setup eligible option, so you will be able to submit individual entries of eligible employee information to assist new hires with the enrollment process. Plan sponsors have been able to send us eligible employee information through file submission within EZLink for some time, but file creation can sometimes present various challenges for plans with a small number of eligible new hires each year.

ICMA-RC is helping to make it easier to increase participation in your 457, 403(b), or 401(k) plan, by giving you new ways to send us eligible employee information. With this additional new process, only a small amount of employee information is required to set up each eligible new hire and then all information entered pre-populates for the eligible new hire making the enrollment experience much quicker and easier to join your plan.

Plan sponsors who take advantage of setting up eligible new hires with this new option are able to control who is permitted to enroll based on your plan(s) specific eligibility requirements. Additionally, this new option eliminates the need for technology resources to create a file of eligible employee information out of your payroll or human resources information system (HRIS).

Employers (and their employees) have many benefits when ICMA-RC receives information on eligible employees, including:

  • Reduced time and paperwork for both you and your employees with enrollment requirements on plan sponsors’ part, as ICMA-RC can direct employees online for enrollment (in 457, 403(b), or 401(k) plans) and your ICMA-RC representative can assist eligible employees as needed in completing the enrollment on their behalf.
  • Decreased operational and administrative burden on plan sponsors, as ICMA-RC would create and distribute targeted messages encouraging employees to join the plan.
  • Expanded engagement and outreach by ICMA-RC, using educational efforts to drive awareness and participation among new employees and contribution increases among existing participants, leading to plan growth and potential fee reductions for plan sponsors.
  • More comprehensive plan health metrics become available to plan sponsors via Plan Heath Monitor as information on all employees — both participants and eligible employees — helping employers better understand how their plan is performing relative to similar organizations.

We are here to help you take advantage of the power of going paperless through every step of this process. If you have any questions or need any assistance, please contact your ICMA-RC representative or Plan Sponsor Services.