Thomson Tax Integrates Payroll Software with Online 401k
DEXTER, MI, November 29, 2007 -– Thomson Tax & Accounting, a business segment of The Thomson Corporation (NYSE: TOC; TSX: TOC), announced a new online 401k feature in their leading payroll processing application—Payroll CS. The software now directly integrates with The Online 401k, the leading provider of full service web-based 401k plans for small and owner-only businesses.
"The Online 401k offers small business owners an affordable 401k plan option, while also simplifying day-to-day plan management, because responsibility for plan administration lies with the employee," said Teresa Mackintosh, CPA.CITP, Vice President of Strategic Marketing, Professional Software & Services, Thomson Tax & Accounting. "For the accountant, the capability to administer their clients' 401k plans introduces a new source of revenue and another way to compete with the payroll giants."
Initial design and set up of a 401k plan through The Online 401k is a simple 30-minute online process. Once the system is set up, Payroll CS automatically creates a 401k information file each time payroll is run, which is then sent to The Online 401k for account updating. Because The Online 401k fully integrates its service with Payroll CS, data transfers seamlessly between systems each payroll period—providing incredible time savings for the accountant and their clients.
Chad Parks, founder and CEO of The Online 401k, explained, "Working with Thomson Tax & Accounting is just another sign that times are evolving. By innovatively integrating our services, we've shown our commitment to small businesses by offering them affordable payroll and retirement options in a convenient and flexible package."
The Thomson Corporation
The Thomson Corporation (www.thomson.com) is a global leader in providing essential electronic workflow solutions to business and professional customers. With operational headquarters in Stamford, Conn., Thomson provides value-added information, software tools and applications to professionals in the fields of law, tax, accounting, financial services, scientific research and healthcare. The Corporation's common shares are listed on the New York and Toronto stock exchanges (NYSE: TOC; TSX: TOC).
The Online 401k
The Online 401k is the nation's leading provider of web-based retirement plan solutions for the small to middle market. Headquartered in San Francisco, CA, the firm provides plan administration and management services to individuals and businesses in all 50 states. The Online 401k offers a wide variety of investments to choose from on multiple platforms. For more information on The Online 401k, visit www.theonline401k.com.
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