WorkplaceXchange®The HRP Election & Loan API enables payroll provider applications to retrieve payroll election and loan information from Fidelity’s Workplace Investing (WI) systems.
Benefits and features
The HRP Election & Loan API provides seamless transaction tracking, enabling precise payroll deductions and near real-time synchronization of financial elections and loan details.
How it works
This API operates through a dynamic, event-driven process where Fidelity sends data to the payroll system every 15 minutes for elections and daily for loans when activity occurs. When a transaction is received, it includes a unique transaction ID that the payroll system uses to retrieve specific employee election or loan details. After processing, the payroll system confirms the deduction update or reports any errors back to Fidelity, ensuring a seamless, near real-time synchronization of financial transactions.
Sample use cases
These use cases convey examples of election change tracking data and updating election transaction status.
Election and loan change
After receiving a webhook from Fidelity’s HRP platform following a participant election change, a call is made to retrieve the election detail. The call will return pertinent data such as the transaction date, product type, election rate amount, transaction status, and transaction ID. In instances where a 401(k) loan has been processed, the API will additionally return a specific loan identifier, enabling precise tracking and reconciliation of the participant's financial transaction.
Election transaction status
The Payroll system leverages the Election Transaction Status Resource to validate successful employee deduction updates and, in cases of processing errors, provide detailed insights that enable timely notification to the Plan Sponsor for immediate corrective action.
