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Financials as of June 30, 2023. [update] [2] Automatic Data Processing, Inc. ( ADP) is an American provider of human resources management software and services, headquartered in Roseland, New Jersey .
The actual deferral percentage (ADP) of all HCEs as a group cannot exceed 2 percentage points greater than all NHCEs as a group. This is known as the ADP test. When a plan fails the ADP test, it essentially has two options to come into compliance.
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The Paycheck Protection Program allows entities to apply for low-interest private loans to pay for payroll and certain other costs. A PPP loan amount is approximately equal to 2.5 times the applicant's average monthly payroll costs.
Releases included customizable payroll reports, a simplified Paycheck Protection Program (PPP) Loan Forgiveness tracker and a streamlined PPP application report that’s been downloaded more than 80,000 times to date. Nationwide, Gusto enabled more than $2.5 billion worth of approved PPP loans.
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