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iSolved/Pay(k)onnect Connection

  1. Contact 401k Carrier 

    1. Request the creation of a payroll bridge. You can do this by using the “401(k) Payroll  Bridge” email template within Document Center > Email Templates. 


  2. Setup iSolved 

    1. Turn on the legal service “Paykonnect Retirement”. 
    2. Enter the Plan ID into deferred comp plan.  
    3. Files for missed payroll entries can be regenerated if the start date for the legal service  predates the payroll processing date.  


  3. Setup Client in Pay(k)onnect 

    1. Login to app.paykonnect.com 
    2. 401k Setup > Company 
    3. Create New. Company Name and Code are for your reference only. Set Input File to  “iSolved”. 
    4. Configure 401k. Create New. An entry will have to be created for each pay group within  the company. Set Investment Company Map to whichever carrier the client uses. You  may have to notify Paykonnect support to add an investment company to our  environment.  


  4. Plan Settings 

    1. General Settings 
      1. Plan Type: 401k 
      2. Plan Name: This field must match the name of the pay group exactly.  
      3. Status: Set to “Test”. 
      4. Pay Frequency: Match iSolved.  
    2. Match Settings 
      1. Contract Number: This field must match the plan ID on the deferred comp page  in isolved.  
      2. Division: This field can be left blank unless instructed otherwise.  
      3. EIN: This field can be left blank unless instructed otherwise. 
      4. Pay Group: This field must match the name of the pay group exactly.  
      5. Legal Code: This field can be left blank unless instructed otherwise. 
    3. Ftp Settings 
      1. Enable FTP: Check this box.  
      2. FTP Login: Use the drop down to select a valid FTP login.
    4. Advanced Settings and Filters 
      1. Most fields within this category can be left blank unless instructed otherwise.  ii. I recommend checking the box titled “Include Loans with no Reference Number. e. (Carrier Name) Settings 
      2. Division Override: Each of the client’s pay groups will be assigned a division by  the carrier. The division number is normally five characters long. 
      3. Depending on the investment company map that you chose there could be  more options here. The investment company contact that you’re working with  will know what to enter into these fields.  
    5. 360 Settings 
      1. Most fields within this category can be left blank unless instructed otherwise.
      2. I recommend checking the box titled “Enable 360”.  
    6. Email Settings 
    7. If the Send reminder box is checked, an email containing the Reminder Message will be sent to the Reminder Email address. The email can contain a  Reminder Attachment if need be.


  5. Money Sources

    1. The Money Sources page is where you will enter all the different 401k related  deductions and memos.

    2.  General Settings 

      1. Investment Company Money Sources: Each code specifies a different type of  deduction/memo and should be provided to you by your payroll bridge contact.  The codes will correspond to which type of deduction/memo you are looking to  use.  
      2. Input File Money Source Fields: This field will be auto populated depending on  the order in which you add deduction/memo types. You should add the money  sources in the order they appear in the input file. If you are adding a loan, set  this field to ”Loan Sum”. If the deduction/memo totals are correct but don’t line  up with the correct deduction/memo money source, changing this field may fix  the issue.  
      3. Output File Money Source Fields: This will be provided to you by your bridge  payroll contact.  

    3. Advanced Settings  

      1. Each of these boxes should not be checked unless instructed otherwise.
    4. 360 Settings
      1. The Deferral Code field should be auto populated with the plan type. All other  fields within this category can be left blank unless instructed otherwise.


  6. Sessions

    1. The sessions page will contain information on any files that you have sent from iSolved  to the carrier through Paykonnect. This page will be used to partially troubleshoot  processing errors.  

    2. View Details

      1. Plan and Summary Info will show you all the basic information related to the  file that you’ve processed.

        1. Steps shows all the processing entries that the system has generated. This pane will allow you to keep track of how far along the file transmission process is and  where along the way any errors might have occurred.
        2. Money Sources shows totals for the different deductions/memos that the  system has translated from iSolved.
        3. Errors will show any critical errors or warnings related to your transmission. Most errors or warnings can be addressed directly within Paykonnect.
        4. FTP Log will show any successful data transmissions.


    You can reach out to support@paykonnect.com if you have any questions about your files.  

    You should review the “Files with potential issues" section every day.  


    You can manually push files to Paykonnect from isolved by going to Production Utilities > Export File Creation > Third Party Export, then selecting Paykonnect Retirement from the drop down, then clicking  the box next to the file you want to send, then finally clicking the Create and Send File button on the  black bar.