The Pension Service
TPS 3(16) Service
Payright Payroll Affiliates
Benefits Plus
TPS Group Medical
Payright Payroll Affiliates, a TPS Group Company, offers customized payroll solutions to meet your business’s needs.
TPS Group is a provider of payroll services, serving the entire Northeast with offices in CT, NY, MA, and ME.
Highly impressed with their level of expertise and outstanding customer service.
I highly recommend TPS Group and their quality third-party administration for our 403(b) plan. During our long relationship with TPS Group, we have never failed to be impressed with their level of expertise and outstanding customer service. They keep their promises and it’s easy to work with them. Having our own rep Lauren McNabb is a plus!
- Don Senecal
They are a pleasure to work with and we highly recommend their services.
For many years we’ve relied on TPS Group’s extensive knowledge and industry expertise to keep us in compliance with state and federal regulations as well as changes in the law. Their attention to detail is just what we need to keep our business operations running smoothly. They are a pleasure to work with and we highly recommend their services.
- Dan Neal
Payroll Provider Services
Payroll/Tax
Payright Payroll Affiliates, a TPS Group Company, offers customized payroll solutions to meet your business’s needs.
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Tax Pay & File
Payright Payroll Affiliates offers a unique payroll experience. Let Payright customize a payroll experience based on your sophistication and needs not just by how many employees you have. Call 1-855-828-2229 to help us customize a solution for you!
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Benefit Accruals
Payright’s Evolution software is extremely flexible. Employers can accrue and track paid time-off with an option to create unlimited time-off accrual codes, and accrue based on pay frequency, employee anniversary dates, or per hours worked.
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Common Account
This time-saving process automatically debits payroll, payments, and payroll tax monies from a business account, alleviating the need to track and reconcile checks individually.
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Time and Attendance
Payright Payroll Affiliates, a TPS Group Company, offers a unique payroll experience. Let our team customize a payroll experience based on your sophistication and needs; not just by how many employees you have.
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Employee Self-Service
Save Time! Employee Self-Service gives your workforce access to pull personal data, pay information, W2s and time off accrual information securely via the internet.
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Workers’ Compensation
Gain better control of your cash flow and expenses. Our workers’ compensation services provide efficiencies by having premiums based on your actual payroll deducted automatically from each payroll cycle. No up-front deposits requirement (to avoid year-end audit issues) and a time savings on administration.
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Evolution's Human Resource Module
Payright’s Human Resource system is fully integrated with our payroll system. With Evolution's HR Module, you have the ability to handle comprehensive tracking of all important employee information throughout their employment period.
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Flexible Spending Accounts (FSA)
Offering your employees Flexible Spending Account Benefits. FSAs offer many benefits for both employers and employees, including substantial savings on qualified healthcare expenses.
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Premium-Only Plans
POP plans are limited scope Section 125 plans that allow employers to pay health insurance premiums without FICA taxation. Employees also save by paying their portion of health insurance premiums with pre-tax income.
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COBRA Administration
The Consolidated Omnibus Budget Reconciliation Act (COBRA) requires that employers follow specific guidelines when notifying individuals of their benefit continuation rights under Health and Welfare plans. Employers may face heavy government fines and penalties if found in non-compliance of COBRA requirements.
READ MORE »Payroll Provider Team Members
Payroll Provider Resources
Internal Revenue Service (IRS)
- Federal tax laws, rules and forms
- Businesses and individuals
- Independent contractor rules for IRS
U.S. Department of Labor (DOL)
- Federal wage and hour law
- Exempt and non-exempt employee status
- Compliance assistance
- Independent contractor rules for DOL
American Payroll Association (APA)
Payroll guidance and information
U.S. Bureau of Labor Statistics (BLS)
Labor statistics & wage data
Equal Employment Opportunity Commission (EEOC)
Federal laws prohibiting job discrimination & enforcement
Payroll Provider Articles
Plan Design Strategies to Attract and Retain Talent in a Competitive Job Market
In today’s labor market, offering a competitive salary isn’t always enough to attract and retain top talent. Employees are looking for more, particularly ...
Navigating 401(k) Plan Audits: What Employers Need to Know
A 401(k) plan audit can feel daunting, but with proper preparation and guidance, employers can ensure compliance and minimize risks. Understanding what ...
Choosing the Right Third-Party Administrator: 6 Key Decision Factors for Companies
Selecting the right third-party administrator (TPA) is critical for businesses that want to efficiently manage their retirement plans. A TPA acts as an ...
Understanding Compliance: Avoid Costly Mistakes
Compliance with federal regulations like ERISA, ACA, and COBRA is critical for employers offering benefits programs. Yet, navigating these complex requirements ...
Year-End Checkup: Are You On Track for Retirement Goals?
As the year draws to a close, it’s the perfect time to reflect on your financial health and ensure you’re on track to meet your retirement goals. A quick ...
How does a Cash Balance Plan work?
Click here to download or print this document as a PDF.
October is National Retirement Security Month
October is National Retirement Security Month, an annual campaign to raise awareness about retirement planning. This initiative offers employers a unique ...
How Clients Benefit from a Third Party Administrator
Originally published by the National Institute of Pension Administrators. Download the original PDF here. The mission of a Third Party Administrator ...
The Impact of Inflation on Retirement Savings
Carl and Terri, a couple in their early 60s, had been saving for retirement for over 30 years. They planned to live off their retirement savings, supplemented ...
Common Retirement Scams to Avoid
Retirement is meant to be a time to enjoy the rewards of your years of hard work. Unfortunately, it can also make you a target for fraudsters, and scams ...
Navigating the Retirement Security Rule: Enhancing Fiduciary Standards for Financial Advisers
On September 23, 2024, the Retirement Security Rule will take effect, a pivotal regulatory update issued by the U.S. Department of Labor (DOL) aimed at ...
Protecting Retirement Assets from Cyber Threats
Cybersecurity is critically important for retirement accounts due to the substantial financial resources and sensitive personal data they contain. Retirement ...
IRS Rollover Chart
This is an “IRS Rollover Chart” as it related to retirement plans and IRAs. Click here to download the chart as a PDF.
A Fresh Start: Financial Planning for the New Year
January is an opportune time to reflect on our financial habits and set the stage for a secure and prosperous future. Financial planning is not just about ...
Generational Savings: Boomers to Gen Z
In the dynamic landscape of personal finance, each generation brings its unique approach to savings, shaped by the economic and political climate, societal ...
Long-Term, Part-Time Rules
As part of the SECURE Act, Long-Term, Part-Time (“LTPT”) rules were created in 2019. Effective for plan years beginning after 12/31/2020, 401(k) plans ...
Don’t Let Health Care Costs Derail Your Retirement
After housing and food, health care is one of the largest expenses you can expect in retirement. According to Fidelity Investments, a 65-year-old retiring ...
Employers: Now’s the Time to Act!
If you’re an employer with a SIMPLE IRA plan for your workforce and want to switch to a 401(k) profit-sharing plan beginning January 1, 2024, the deadline ...
Understanding Retirement Catch-Up Contributions in 2024
The SECURE 2.0 Act, signed into law in December 2022, includes measures aimed at simplifying the process for Americans to build their retirement savings. ...
The Importance of Financial Wellness Education in the Workplace
Between an unexpected major car repair, looming tuition bills for the kids, and ballooning credit card debt, Andy and his wife were financially strained. ...
Is Your Retirement Plan Still Aligned with Your Business Needs?
With 2023 right on the horizon, now is a good time for employers to review whether their retirement plans are still in alignment with their business needs ...
Understanding ERISA Fidelity Bonds and Fiduciary Liability Insurance
The Employee Retirement Income Security Act (ERISA) is a federal law that sets rules and standards of conduct for most voluntarily established retirement ...
Defined Benefit Plans are Alive and Well
For the most part, the news about Defined Benefit plans lately has not been particularly good. Whether a big company could no longer fund its plan or how ...
IRS Extends Deadlines for Retirement Plan Amendments
This month, the IRS extended the deadlines to adopt certain retirement plan amendments for most plans. Notice 2022-33 provides plan sponsors with an extension ...
“We’ve Been Hacked” – Cybersecurity and Your Employees
It happens every minute of every day, in all types of businesses around the country: an employee receives a fake email and unwittingly clicks on a link ...
Getting the Word Out to Your Employees about Retirement Planning
A 33-year-old single mother, Karina paid little attention to her employer’s notices about the company’s 401(k) retirement plan. Retirement seemed like ...
Starter-K Act of 2022 Introduced in the Senate
On March 30, 2022, Senators John Barrasso (R-WY) and Tom Carper (D-DE) introduced the bi-partisan Starter-K Act in the Senate. This bill allows employers ...
Cash Balance Plans: Don’t Miss Out!
Cash balance plans can offer high-income business owners and executives significant tax advantages and a way to build large retirement assets. A cash balance ...
Tax Credits for Retirement Plan Start-up Costs
Retirement plans can help employers attract and retain workers and improve morale. If you’re a small business owner considering a qualified retirement ...
New Laws for 2022: Time to Look at your Handbooks!
Paid Leave Connecticut employers have been (or should have been) withholding a small percentage of employees’ salaries this year to contribute to the ...
The Advantages of Roth After-Tax 401k Deferrals
When a 401k plan includes a Roth option, participants who are eligible to make traditional pre-tax 401k deferrals are also eligible to make Roth after-tax ...
Notice to Employees Regarding Saver's Credit
This notice explains how you may be able to pay less tax by contributing to your Employer’s Plan or to an individual retirement arrangement (“IRA”). If ...
What You Need to Know about New Rules for Required Minimum Distributions (RMDs)
A required minimum distribution, or RMD, is the minimum amount that must be withdrawn each year from a retirement account such as an IRA, 401(K), 403(B) ...
Are HSAs Redefining Health Care?
Ron, a single Millennial, was given the option by his employer during the annual enrollment period to choose a high-deductible health plan (HDHP) with ...
Cycle 3 Restatements: Here’s What You Need to Know
The Internal Revenue service requires all qualified retirement plans to update their plan documents every 6 years, in a formal process called a “plan restatement.” ...
Going Paperless with Retirement Plans
In July 2020, the Department of Labor finalized a rule that makes it easier for retirement plan sponsors to send certain retirement plan documents to covered ...
New IRS Rules to Correct Plan Failures
Retirement plan sponsors and those who work to correct plan failures need to know that as of July 16, 2021, the IRS has extended the self-correction period ...
Are You at Risk for a Lawsuit? How HR Analysis can Save Employers from Costly Litigation
The last thing that Eric needed was the news that a former employee had filed a lawsuit against his company alleging discrimination. The owner of a manufacturing ...
What are the Best States for Retirement?
For years, Bob and his wife Ellen talked about moving from the Northeast to a southern state when it was time to retire. They often vacationed at a coastal ...
Financial Wellness and Emergency Savings
Money is a leading cause of stress for most Americans, even those considered wealthy. Surveys show that people worry about retirement savings, unexpected ...
Pros and Cons of Annuities vs. Lump Sum Payouts for Defined Benefit Plans
At age 66 and widowed, Eric was ready to retire and faced with a choice: take a one-time lump sum benefit equal to the $550,000 he had in his defined benefit ...
What Employers Need to Know about Cycle 3 Restatements
Every six years, the IRS requires employers to restate their qualified retirement plan documents to incorporate any recent legislative and regulatory changes ...
Season’s Greetings from TPS Group
To our Friends and Associates – Each year during the holiday season, we take great pleasure in setting aside time from our regular work to send a heartfelt ...
Top Fears of Employees Approaching Retirement
The decision to retire often brings a mix of emotions: relief, excitement, and anticipation of more time to relax, travel, and pursue other interests. ...
Performance Development vs Performance Management: Is it Time for a Change?
“I’ve been doing performance reviews for the past 20 years, and I’ve never gone back and looked at any of them once they were submitted.” “I usually just ...
Pros and Cons of CARES Act Retirement Account Withdrawals
Bob’s wife, Angie, was laid off from her job in retail when the pandemic began and stores closed their doors. To make matters worse, Bob became infected ...
TPS Talks Newsletter | Apr. - May 2020 | Issue 1
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COVID-19 and Workplace Stress: Tips for Managers and Leaders
As the engines of the economy restart in phases, many business leaders are grappling with concerns about the welfare and safety of their employees and ...
CEFEX, Centre for Fiduciary Excellence, LLC, has renewed the certification of TPS Group
RECORDKEEPER/ADMINISTRATOR RENEWS CERTIFICATION TO INDUSTRY BEST PRACTICES PITTSBURGH, May 27, 2020, CEFEX, Centre for Fiduciary Excellence, LLC, has ...
May is Mental Health Awareness Month
May is Mental Health Awareness Month. Nearly 450 Million people worldwide are currently living with some level of mental illness including anxiety, depression ...
How the CARES Act Applies to Your Retirement Plan
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The CARES Act and Retirement Plans
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, 2020, in response to the coronavirus pandemic. Key provisions ...
CT Recovery Bridge Loan Program
Coronavirus Business Recovery TPS Group will continue representing the interests of you and your employees during this crisis and keep you informed of ...
Families First Coronavirus Response Act (FFCRA)
As America has nearly shut down overnight due to the coronavirus pandemic, we understand employers are faced with growing concerns about how to manage ...
IRS Extends 2019 Qualified Plan, IRA, HSA Contribution Deadlines
The IRS on March 24 updated its website to indicate that it has extended until July 15, 2020 the deadlines for making contributions to workplace-based ...
Supporting Local Businesses during the Pandemic
As America has nearly shut down overnight due to the coronavirus pandemic, our local business community has acutely felt the loss of customers and its ...
TPS Group Statement On COVID-19 Outbreak
At TPS Group, we care deeply about the safety of our employees, customers, and communities. Due to the evolving situation with the coronavirus (COVID-19) ...
Dealing with Coronavirus: Employer Considerations
As the number of coronavirus (COVID-19) cases increases in the United States, employers are faced with growing concerns about how to manage the impact ...
Recordkeeper/Administrator Renews Certification To Industry Best Practices
PITTSBURGH, 05/14/2019– CEFEX, Centre for Fiduciary Excellence, LLC, has renewed the certification of TPS Group, headquartered in North Haven, CT as adhering ...
Financial Wellness Is Essential to Saving for Retirement
Financial Wellness – It’s Essential to Saving for Retirement Introducing a workplace retirement plan can be a compelling way for emplyees to take control ...
The Cost of Aging: Are You Ready?
Forty-five years old, married with two teens, and employed full-time, Shannon struggled to care for her aging parents as their health deteriorated. Her ...
Cash Balance Plans Allow Six Figure Annual Contributions
Cash Balance Plans Allow Six Figure Contributions Most people can contribute to their 401(k) without worrying about exceeding the annual contribution ...
Steps To Take To Protect Your Investments
Retirement accounts have become an attractive target for cyber-thieves, and fraudulent activity is on the rise nationally. Here are important steps to ...
Gen Z in the Workplace: Are Companies Ready?
Young adults of Generation Z, defined as the cohort of people born from 1997 on, are entering the workforce and will change the rule book just as the Millennials ...
The Vanishing Employee: “Ghosting” at Work
It’s a new, startling labor trend in one of the strongest job markets in 19 years: “ghosting.” Once a term used primarily in the dating world to describe ...
"Hot Topics in HR" Complimentary Seminar
Don't Miss This Opportunity! "Hot Topics in HR" Complimentary Seminar November 13, 2018 You are invited to a complimentary seminar and brunch buffet ...
Salary Deferral Deposits: Avoiding Fiduciary Violations
For the 401(k) fiduciary, the importance of timely salary deferral deposits cannot be overstated. An employer that fails to remit employee contributions ...
