The PSC builds on the strengths of payroll data interchange—or PDI—to simplify plan administration, increase the accuracy of plan and participant data and help ensure the secure exchange of information between you and the recordkeeper. PDI allows you to transmit payroll data files via the Web site directly to the recordkeeper, and you can use that same information to administer your plan—keeping you, your participants, and the recordkeeper on the same page.

With PDI, you can automate the collection of any payroll information relevant to your plan administration efforts. Because you access the same information used to process your payroll, you can dramatically improve both the speed and accuracy of your compliance reporting, deferral processing, online enrollment and loan administration.

PDI also ensures the consistency of information between your plan, your payroll processes and the recordkeeper. Through the PSC, you can provide the recordkeeper with the latest information on employee names, addresses, and income and allocation data. In turn, the recordkeeper feeds information, such as number of enrollments and loans, eligibility and deferrals, back to you via the PSC. So, the information you see on the PSC is the same information in the recordkeeping system—as well as the same information available on your participant Web site. PDI ensures that both you and the recordkeeper have the information needed for the most efficient and accurate administration possible.

PDI puts a wider range of plan and participant information at your fingertips. In short, you spend less time wading through reams of paper and navigating multiple sources to locate and research information, which can dramatically simplify administrative tasks, such as:

• Online enrollment
  
• Deferral recordkeeping
  
• Loan administration
  
• Distributions
  
• Compliance services and year-end testing
  
• Targeted participant marketing campaigns
  
• Retirement income gap analysis