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7.
Common Remitter Service
7.1
Processing A Payroll
7.1.1
Remittance files must be submitted in the Retirement Manager file format
as defined by VRSCO.
7.1.2
After the Employer payroll system runs, a Payroll Remittance file will be
uploaded or sent via Secured FTP to Retirement Manager.
7.1.3
Payroll remittance requires a valid 9-digit SSN for all remitting
Employees. If the remittance file is sent with only the EID, the SSN
must be transmitted via the demographic file.
7.1.4
If a remittance is received for an Employee whose identifying data has not
previously been loaded into Retirement Manager, the remittance process
will stop until resolved.
7.1.5
Remittance reports are only generated and made available to Approved
Vendors electronically via secure FTP file transfer or download via the
Retirement Manager web site. Employer agrees that all Approved
Vendors participating in the Retirement Plans shall accept remittance
reports electronically in one of these available Retirement Manager
formats or the Approved Vendor will not receive remittance reports.
7.1.6
For remittance reports downloaded online via Retirement Manager, an e-
mail notification is sent to the Approved Vendor when the report is
available.
7.2
Adjustments to Prior Payrolls
7.2.1
Adjustments to payrolls previously remitted may be included in
subsequent remittance files or separate files.
7.2.2
Negative adjustments (amount to be refunded from a specific Employee’s
account with an Approved Vendor to the Employer) are indicated as
defined in the Retirement Manager file formats. Any negative
adjustments will be sent to the Approved Vendor with instructions to
return the funds to the Employer. Employer may use the Net Negative
Common Remitter process. Positive contributions and negative
adjustments will be submitted in one Common Remitter file and the
Employer will remit the net balance of the contributions as adjusted to be
forwarded by VRSCO to Approved Vendors. VRSCO is not responsible
for any delay by or refusal of an Approved Vendor to process a remittance
sent to an Approved Vendor net of negative adjustments.
7.2.3
Positive contributions (additional amounts to be sent to the Approved
Vendor for a specific Employee) are formatted in the same manner as
current remittances. The Employer must remit funds for positive
contributions.
7.2.4
To assist the Employer in tracking these remittances, the payroll date
included on the remittance file must correspond to the payroll date for
which the adjustment is being made. The payroll date received in
Retirement Manager is the date that will be provided to the Approved
Vendor.
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