Technology Topics

J.P. Morgan’s InfoWeb on-line benefit payment system

System Upgrade

In June and October, J.P. Morgan installed upgraded versions of our on-line benefit payment system, InfoWeb.  In addition to back-end processing enhancements to increase system efficiency, the system upgrade also enabled users to search the payment system files using only the last 4 numbers of a participant’s social security number.  Other features of this system release included the ability to select 30 fields for a Custom Report, (increased from the previous limit of 10) and most recently, the ability to initiate rollover transactions via direct deposit. 

Reporting Enhancements

J.P. Morgan has created a standard package of benefit payment reports that we will provide to Plan Sponsors via InfoWeb, easily accessed through the secure J.P. Morgan ACCESS portal.  Reports that Plan Sponsors are accustomed to working with will continue to be available, however, instead of having to retrieve, J.P. Morgan will automatically provide the following reports, delivered via the InfoWeb reporting module:

Check Register - industry wide tool used to review your Plan’s benefit payments
EFT Reject Report - detailing those transactions that were rejected by the receiving financial institution
Check Aging Report - listing payments over 90 days old

Additionally, the following reports will be available:

• Future Dated Reports- detailing transactions setup to occur in the future
• Daily/Monthly Recaps- built by you, our clients! A J.P. Morgan favorite balancing tool for reconciling your benefit payment information

These exciting new reports will be available to Plan Sponsors via InfoWeb.  Please note that J.P. Morgan will no longer be providing paper or faxed versions of these reports.  All on-line reporting is available for download, retention to your company files or printing at your facility.

Intra-Day Reporting

J.P. Morgan has designed an intra-day report capability from InfoWeb, our online benefit payment system.  This important capability will streamline Plan Sponsor reconciliation and provide a more effective information retrieval process for our clients.  Now the reports that Plan Sponsors would have had to wait until after overnight processing to obtain, can be available the same day they are requested in InfoWeb. We look forward to launching this later in the year.

How do I sign up?

No InfoWeb access?  No problem! 

This November, J.P. Morgan will be sending Plan Sponsors a user application to set-up InfoWeb access so that you will be able to access your Plan and Plan participant information 24/7, securely and efficiently!  Or contact your J.P. Morgan benefit payment representative today to begin- it’s quick and easy!

To download the Benefit Payments Newsletter PDF, please click here.