The most common and straightforward method of remitting contribution funds to MERIT is to allow our custodian to deduct the funds directly from your bank account. This method is referred to as "ACH Pull."
Note: If you or your payroll provider uses an ACH Pull process to fund your payroll contributions, you must confirm with your bank that they do not have an ACH Pull Block on your Employer Bank account. Please instruct your bank to accept ACH Pull Debits from the following:
Bank: Bank of New York Mellon
ABA: 011001234
DDA: 746290
If a block is present on your bank account, this will impact the ability to credit employees with their IRA contributions and may require you to refund deductions back to your employees if the block is not removed.