Payroll pay cards, which are debit cards to which employees' pay is deposited, are becoming more and more common. Essentially, payroll pay cards eliminate the need for employees to cash a paycheck in order to have access to their wages.
They are ideal for employees who do not have a bank account as they can be used at ATMs to withdraw cash or in retail environments to make purchases, basically eliminating the need to "cash" a paycheck.
However, there are rules and regulations for their use that must be followed - and benefits as well as drawbacks that should be addressed - when contemplating whether or not to go to a pay card system.
For instance, the majority of state labor laws allow employers to offer direct deposit, but they don't allow employers to mandate that their workers participate in their direct deposit programs, meaning that your company may have to offer several options for paying your employees, which could negate the positive affects of utilizing paycards.
So if your company is contemplating a move to a pay card system, you will want to make an informed decision regarding the why's, how's, and regulatory issues of using pay cards.
Since this is an interactive audio conference, your questions will be asked and answered as part of the presentation.
By attending, you will learn:
- The definition and benefits of utilizing paycards
- The different types of pay cards, pay card providers, and how they work
- The potential downside of using paycards
- The states that have enacted legislation either for or against the use of paycards - and what the legislation states
- Whether or not an employer can mandate the use of paycards for their workforce
- What you do if you are a multi-state employer and you want to launch a program for your entire worker population
- How to roll out a pay card system to your employees if you have decided to initiate a pay card program
About Your Speaker
Mark Schwartz has over 15 years experience in state and federal payroll tax audits, collections, and payroll consulting.
As an auditor, Mark prided himself on his ability to educate his auditees on state and federal payroll tax requirements. Whatever issues he found in audits, he ensured the auditee knew how to comply in the future. He worked to minimize company disruptions in the audit process.
In addition to his real-life experiences, Mark has a Masters in Business Administration, and currently uses his entertaining and helpful personality to help organizations prepare for payroll tax audits - whether they've already got the notice or are still hoping they don't!
PHR / SPHR Credits!
This program has been approved for 1.5 recertification credit hours through the HR Certification Institute. For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org. The use of this seal is not an endorsement by HRCI of the quality of the program. It means that this program has met HRCI's criteria to be pre-approved for recertification credit.