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Payroll Requirements For Terminated Employees

payroll-requirements-for-terminated-employees
Webinar: ID# 1041229
Recorded On-Demand
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About This Course:
This training session covers the laws and procedures affecting pay for terminated employees.

Paying an ex-employee involves not just distributing the ex-employee's final paycheck, but knowing how to properly handle and tax any severance or other benefits due, then integrating these payments with compliance regulations under COBRA or the Stimulus Act.

You also will learn how to handle the more-advanced issues such as requirements for death payments, legal settlements, and stock options.What You'll Learn:

By attending this audio conference you will learn:

  • The different types of termination pay
  • The timetable for how quickly your employees have to be paid in each state where you have workers
  • The payroll tax consequences of payments made to an employee as part of a severance or layoff
  • The difference between providing wage continuation versus lump sum severance
  • Whether severance can be used when determining the benefits an employee will receive from the Unemployment Office
  • How Supplemental Unemployment Benefit Plans can be used to decrease the costs associated with severance payments
  • How wage continuation and lump sum severance payments affect unemployment insurance benefits
  • Whether severance is taxable or non-taxable
  • How the new Stimulus Act effects the provision of COBRA to those employees that have been terminated
  • How to identify any areas of concern prior to an external audit or an audit by another group within your company
  • Requirements for death payments, legal settlements, and stock options
  • Exceptions to the rules

...and as always, this session will be interactive, so we'll be able to answer your questions on this topic throughout the presentation!

Top FAQs

The final paycheck should contain the employee's regular wages from the most recent pay period, plus other types of compensation such as commissions, bonuses, and accrued sick and vacation pay. Employers can withhold money from the employee's last paycheck if the employee owes your organization.
The answer to when should the last pay check be given is "it depends". Most states have laws mandating how soon a departing employee must receive his or her last pay check. In some, the final paycheck must be given at the time of termination; in others, employers have more flexibility with regard to the timeliness of giving the last pay check.
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.
Generally speaking, an employer might be able to deduct the cost of the equipment from the final pay of non-exempt employees, but employers cannot withhold a terminated employee's paycheck until equipment is returned.
The answer to when should the last pay check be given is 'it depends'. Most states have laws mandating how soon a departing employee must receive his or her last pay check. In some, the final paycheck must be given at the time of termination; in others, employers have more flexibility with regard to the timeliness of giving the last pay check.
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.
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.
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
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.
Depending on the individual state's rules, the final paycheck can be paid via check, direct deposit (if an employee previously authorized direct deposit for wages), payroll paycard, or mailed.
Various states have requirements re how - and when - an employer must pay final wages. For instance, many states allow employers to pay final wages via direct deposit if an employee previously authorized direct deposit for wages, but these states often have rules regarding the timing of such payments. As such, definitely check your state's requirements.
Continuing Education Credits:

Click the 'Credits' tab above for information on PHR/SPHR, PDCs, and other CE credits offered by taking this course.
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Payroll Requirements For Terminated Employees
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