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In 2007, the ADP Brokerage Service Group was spun off to form Broadridge Financial Solutions, Inc., removing about US$2 billion from ADP's total yearly revenue. [11] ADP distributed one share of Broadridge common stock for every four shares of ADP common stock held by shareholders of record as of the close of business on March 23, 2007.
On June 2, 2009, it announced the signing of a definitive agreement to purchase PayCycle Inc., an online payroll services, in an all-cash transaction for approximately $170 million. [98] On September 14, 2009, Intuit Inc. agreed to acquire Mint.com, a free online personal finance service, for $170 million. [99] [100]
This is known as the ADP test. When a plan fails the ADP test, it essentially has two options to come into compliance. A return of excess can be given to the HCEs to lower the HCE ADP to a passing level, or it can process a "qualified non-elective contribution" (QNEC) to some or all of the NHCEs in order to raise the NHCE ADP to a passing level.
Plenty of job news is in this morning, starting with the Challenger Gray & Christmas layoff data. The firm announced that layoffs from major U.S. corporations increased by 31 percent in July to ...
Private job growth slowed further in July while the pace of wage gains hit a three-year low, payrolls processing firm ADP reported Wednesday. Companies added just 122,000 jobs on the month, the ...
Henry Taub (September 20, 1927 – March 31, 2011) [1] was an American businessman and philanthropist of Hungarian-Jewish descent who was a co-founder of ADP. Raised in Paterson, New Jersey, Taub attended Eastside High School. [2] Taub was educated at New York University. He graduated from NYU in 1947 with a degree in accounting. [3]
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