Payroll Paycards: How To Save Costs and Maintain Compliance

Webinar: ID# 1000340

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

Top FAQs

Why Get Payroll Training From TrainingCenter?

In business since the mid-1990's, we have over 25 years of experience delivering high-quality training content via seminar, webinar, online, and other formats. Each of our courses are delivered by an industry expert who will share his or her years of experience to help you be in compliance, smarter, and more productive, and almost all offer SHRM and HRCI credits.

What Are The Primary Payroll Areas?

In addition to ensuring that employees are paid correctly and on time, "Payroll" has numerous time and reporting requirements. The primary payroll areas include paychecks, reporting, operations, and management.

What Are Some Of The Requirements For Handling Payroll?

Payroll is much more than just handing out paychecks, and includes a variety of responsibilities such as handling garnishments, travel pay, multi-state taxation, unclaimed paychecks, and much more in a timely and accurate fashion.

Is Payroll State Specific?

While many payroll-related regulations are federally-governed, there also are many state requirements, including those for handling garnishment, final paychecks, and unclaimed paychecks. Each state's requirements differ in the details, so be sure to check your state's requirements by clicking the applicable link(s) at the bottom of this page.

I Handle Payroll For Some Of My Companies. What Are Some Of The Things I Need To Do Or Be Aware Of?

Payroll Administrators must be able to:

• Properly "classify" workers
• Apply the various exemptions
• Calculate gross pay and properly make deductions
• Correctly identify, pay, and withhold taxes for employees
• Administer deferred compensation, cafeteria plan, sick pay, and other compensation
• Handle stock options, expense reimbursements, relocation, and other "expenses"
• Follow the proper policies, procedures, and documentation requirements for garnishments and levies
• Properly complete and file all required reporting requirements
• Correctly complete year-end requirements and establish year-beginning requirements
• Implement and maintain fraud, audit, disaster recovery, and record retention processes and procedures