ACA is an extremely efficient and automated technology-based revolving loan line service. Similarly, ACA eliminates the plan sponsors operational costs associated with loan repayment payroll processing. ACA automates or eliminates the workload typically associated with processing loans. Specifically:
- ACA eliminates the paperwork and process flow between the recordkeeper and the plan sponsor – a cost savings to you and your clients
- ACA removes the plan sponsor from the loan repayment and payroll deduction process, thus reducing the plan sponsor's workload – you get to deliver the good news to your clients that they're no longer in the loan payment tracking business.
- Likewise, the burden of processing loan repayments as part of payroll deductions and calculating cumbersome final payments is eliminated for the recordkeeper – imagine no more loan repayment exception processing.
- ACA's automated and streamlined processes minimize time consuming and costly administrative interactions with participants, while enhancing the overall participant experience.
