Handling Special Payroll Situations: Death, Disaster, Overpays, and Inclement Weather
Duration: 60 Minutes
As payroll professionals, we find certain types of pay situations to be quite challenging. Because these pay situations do not occur often, processing them can become overwhelming. As human resources, compensation and payroll professionals it is our responsibility to ensure that all types of pay situations meet the federal and state law requirements. This material will provide a better perspective on how to implement process and disburse those unusual pay situations.
Objectives of the Presentation
This program gives participants a better understanding of laws that affect how we handle overpayments, deceased employee pay, termination pay, and other "special" pay situations.
The session covers timing, methods, and taxation, as well as best practices for recouping funds from both active and terminated employees who were overpaid or paid incorrectly.
Areas Covered
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Download Agenda- How to manage executive pay
- Various types of pay associated to the executive compensation package
- The components associated with piece rate pay
- Federal and state law requirements for a deceased employee
- Identify various types of indirect and direct pay
- How to calculate golden parachute payments
- How to create and design a blended rate compensation system
This program gives participants a better understanding of laws that affect how we handle overpayments, deceased employee pay, termination pay, and other "special" pay situations.
The session covers timing, methods, and taxation, as well as best practices for recouping funds from both active and terminated employees who were overpaid or paid incorrectly.
Areas Covered
- Review of common special pay situations, including payroll overpayments, deceased employee pay, termination pay
- How to handle employee loans and advances
- The tax implications of overpayments, deceased employee pay, and terminations
- Final pay issues for terminated employees - from severance to legal settlements
- For deceased employees, how to determine to whom final payments should be made
- What are the best methods for recouping overpaid dollars and non-cash items
- What special state and federal laws should be considered
- Special year-end reporting concerns
- Payroll Professionals
- Human Resources Professionals
- Benefit & Compensation Professionals