Great-West and Ceridian Introduce 401(k) Payroll Interface

Great-West Retirement Services has joined with Ceridian Small Business Services to introduce a payroll interface 401(k) service that allows employers to reduce the administration of their 401(k) plan.

According to an announcement from Great-West, direct technology shared between the Ceridian Payroll platform for small businesses and the Great-West Retirement Services proprietary 401(k) recordkeeping system allows employee and 401(k) participant data to be shared and updated in the course of the employer’s normal payroll processing.

Bill Harmon, vice president of 401(k) sales for Great-West Retirement Services, said in the announcement that Great-West and Ceridian will market the service to their existing and prospective clients.

Tom Connolly, vice president of business development at Great-West Retirement Services, added that the new service also enables advisers who sell Great-West Retirement Services products to better compete against other payroll service providers that offer 401(k) recordkeeping.

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