New! Pre-authorized withdrawal sign up via web

December 9, 2013

Beginning December 14, 2013, if you’ve registered for access to the Plan Sponsor Services website and don't currently use payroll divisions in your plan, you will have the ability to sign up for pre-authorized withdrawal (PAW) via web-based forms. This enhancement improves the current process whereby sponsors must submit PAW set-up information via paper forms.

If you currently use PAW, and don't use payroll divisions in your plan, you will have the ability to modify your existing bank account information via web-based forms.

Highlights of PAW capabilities beginning December 14, 2013*:

  • Automatic access to the new functionality will be provided to primary users on plans that have no payroll divisions where the user does not need access to multiple client IDs.
  • Ability to add PAW and change banking information online (users will need to contact Sun Life Financial Group Retirement Services to stop PAW); accessed through a new link called ‘Add/change banking information' in the Administration menu.

It's easy to set up!

Start by signing in to the Plan Sponsor Services website using your access ID and password.
 

To begin, select Add/change banking information from the Administration drop-down menu.


 

Existing bank account information will be displayed. Select the change you want to make under Update the bank account.


  

If a new bank account is being added, you must indicate that you have the legal authority to enter into the agreement and must agree to the terms and conditions. You'll also be required to enter all new account information - transit, institution and account numbers, as well as payment frequency, maximum PAW limit, and account holder's name.
 

  

Review and select Submit if all the information is accurate, and print the confirmation page for your records.


 

A complete "How-to set up PAW" guide is available upon request from your Group Retirement Services representative.

* This new functionality is only available to sponsors who don't use payroll divisions in their plan(s).

Questions?
Please contact your Sun Life Financial Group Retirement Services representative.