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Minimizing collection float for employee payments is best achieved through the use of the PPD (Prearranged Payment and Deposit) format. This method enables employers to set up automated payroll deposits directly into employees' bank accounts.

By leveraging the PPD format, the insurance broker can ensure that funds are electronically transferred to employees on scheduled dates, reducing the time it takes for employees to receive their payments after they are issued. This expedites the process, eliminates the waiting period typically associated with paper checks, and thus minimizes collection float.

In contrast, the other formats serve different purposes. ARC (Accounts Receivable Conversion) is typically used for converting checks received into ACH transactions, but it’s not directly related to employee payroll. CCD (Cash Concentration or Disbursement) is used primarily for business-to-business transactions and not for individual payroll. RCK (Re-presented Check) is related to checks that are returned due to insufficient funds, which does not relate to minimizing collection float for payroll.

Overall, the use of PPD enables efficient and timely payment processing for employees, making it the most suitable choice for minimizing collection float.