The Common Remitter File facilitates the transmission of annuity and retirement contribution information for a variety of companies (Valic, Edward Jones, American Fidelity, Bancorp, etc.) to Third Party Administrators. The Common Remitter File is created within the BMS Payroll application and sent to the Third Party Administrator your school uses to distribute the retirement savings plans/tax-sheltered annuities.

Features

• Alleviates accounting department’s volume of paperwork

• Reduces time due to collecting documentation to include with payment

• Expedites the distribution of funds into employee retirement systems by providing
  Third Party Administrators with necessary data and details

• Transmits information for 403b, after tax 403b, Roth, 414h, 457b, and other plans

*Third Party Administrators that currently accept BMS Common Remitter File

• VOYA (formerly ING)
• OMNI (formerly CPI)

*Other Third Party Administrators can be added, assuming they have the ability to accept a Common Remitter File. Development costs for companies not on this list may apply. File format changes require a $500 reformatting fee.

View Common Remitter File PDF