ADP Shows New Workers How to Give Themselves a Raise
In Celebration of National Payroll Week (Sept. 4-8),
ADP Partners With the American Payroll Association to Communicate
the Benefits of Pre-Tax and Tax Advantaged Program
Terry Corallo
ADP
(973) 974-7612 |
Jaclyn Savage
Cohn & Wolfe for ADP
(212) 798-9518 |
ROSELAND, New Jersey -- September 5, 2006 -- ADP® Employer Services, a leading provider of integrated outsourced payroll and human resources services, today announced its annual National Payroll Week campaign to help educate workers on how to maximize the value of their paychecks. This year's campaign, created in partnership with the American Payroll Association, focuses on educating both new workers and those returning to the workforce about the benefits of voluntary payroll deductions.
The theme of this 10th Anniversary campaign for National Payroll Week is, "Payroll 101: Give Yourself a Raise the First Day on the Job!" The campaign targets younger workers, such as high school and college graduates, who are entering the workforce for the first time, as well as adults re-entering the job market after raising children or coming out of an early retirement. Through video and radio news announcements, ADP and the APA encourage new and returning workers to carefully evaluate the full suite of payroll deduction options, which are effective means to increasing spending power and realizing savings.
"Many employees become overwhelmed by new-hire paperwork, and ultimately select basic health and welfare coverage and mandatory W-2 deductions," said Mike Martone, President, ADP Employer Services. "Employers today are offering a variety of pre-tax programs to help employees maximize their paycheck in ways that work for their individual lifestyle. There are options for deducting commuting costs, childcare, college tuition savings, and of course retirement. By understanding the basics, employees can truly give themselves an instant raise."
Education is the key to helping young and returning workers understand the value of voluntary deductions. The increasing array of pre-tax and tax advantaged payroll options offer newly hired employees both immediate and long-term financial benefits. For instance, working parents can save up to 35 percent of childcare expenses a year by setting up a Dependent Care Reimbursement Account. And with today's high gasoline prices, people who commute to work will appreciate the cost savings available through a TRIP (Transportation Reimbursement Incentive Program).
Retirement savings is important now more than ever. In 2006, Social Security benefits account for only 39 percent of total retiree spending, so personal retirement savings plans are essential, especially if employers offer fund-matching programs. The campaign teaches that, as with any investment program, 401(k) plans should be reviewed and managed regularly. Many offerings are available today, including automatic updates to 401(k) contributions tied to salary raises.
"Many new workers erroneously equate payroll deductions with smaller paychecks, when in fact, many voluntary deductions actually stretch their paycheck dollars," said Dan Maddux, Executive Director, American Payroll Association. "These programs are administered at no cost, and are designed to help workers better manage their finances and save money. Pre-tax deductions work for you by reducing your taxable income and putting more money in your pocket today, while helping you save for the future."
Employees, new and old, can learn more about their paycheck deduction options at www.mypaycheck.org and www.nationalpayrollweek.com. The sites feature a range of tools including:
- Tips to manage and maximize your paycheck,
- Tax, college saving and retirement planning calculators and
- Articles and explanations about useful employee benefits and trends.
ADP works with companies of all sizes and industries to help employers offer cost-effective and flexible solutions. ADP has served as the sole Diamond Sponsor of NPW, the highest level of sponsorship available, since its inception in 1996.
To view the video on the MyPaycheck Web site, go to www.mypaycheck.org. Under the Features & Tools section, select "Payroll 101: Give Yourself a Raise the First Day on the Job" The video can be viewed at Look...Learn...Listen.
About National Payroll Week
Founded by the American Payroll Association in 1996, National Payroll Week celebrates the unique partnership among the millions of America's wage earners, their companies, and the Payroll Professionals who ensure that America's workers are paid accurately and on time. National Payroll Week also focuses attention on the payroll withholding system, and how wage earners can use it to help achieve their individual goals. More information about National Payroll Week can be found at www.nationalpayrollweek.com.
About ADP
Automatic Data Processing, Inc. (NYSE: ADP), with nearly $9 billion in revenues and more than 570,000 clients worldwide, is one of the largest providers of a broad range of premier, mission-critical, cost-effective transaction processing and information-based business solutions. ADP® Employer Services (ES), a division of ADP, offers the widest range of HR, payroll, and benefits administration solutions from a single source, to meet the extensive business needs of employers worldwide. Built with more than 50 years of industry experience, ADP ES' cost-effective, easy-to-use solutions provide superior value to companies of all sizes. Approximately 540,000 companies rely on ADP ES for unparalleled service and compliance expertise, allowing them to focus on other core activities. For more information about ADP ES or to contact a local ADP sales office, call us at 1.800.225.5237 or visit the company's Web site at www.ADP.com.
About APA
Established in 1982, the American Payroll Association (APA) is the nation's leader in payroll education, publications, and training. The nonprofit association conducts more than 300 payroll training conferences and seminars across the country each year and publishes a complete library of resource texts and newsletters. Every year, nearly 17,000 professionals attend APA training sessions. Representing more than 22,000 members, APA is the industry's highly respected and collective voice in Washington, D.C. For more information about APA go to www.americanpayroll.org or www.nationalpayrollweek.com, or contact Steve Elliott, selliott@americanpayroll.org, 210-226-4600, extension 2230.
###