Issuing Final Paychecks: Requirements for Terminated Employees
Processing a terminated employee's paycheck correctly can be difficult. Employers must know the proper way to handle the final payment for non-exempt and exempt employees. Not only is there a landmine field of state and federal wage and hour laws addressing compensation, but the withholding or taxation may even change for this one payment!
Payroll and HR must comply with a whole host of regulations, or risk extensive penalties and potentially costly litigation. Many questions need to be asked before that final check can be processed, and to ensure compliance. Join our 60-minute program to get the answers you need! You'll discover:
- State-by-state review for issuing the final paycheck to terminated employees
- Voluntary v. involuntary termination: Does that change the payment due date?
- Impact on the final paycheck if the employee is now deceased
- How to handle vacation pay including when employees owe vacation days
- Keys to managing child support and other deductions from the final paycheck
Regulations & Deadlines: Issuing Final Payments to Terminated Employees
- Effect of federal and state wage and hour laws on termination payments
- State-by-state review of when and how to pay the final paycheck
- What's the difference between voluntary and involuntary termination pay?
- Proper handling of deceased employee payments and reporting requirements
- Year end and record retention concerns for Payroll and HR
Handling Tough Final Payment Issues: Creating Your Compliance Check-list
- Accrued vacation when it must be paid: State-by-state review
- Keys to recouping negative vacation balance and overpayments
- Deducting for missing or unreturned tools, company property, or uniforms
- Processing child support, tax levies, and creditor garnishments
- Handling fringe benefits including stock options and deferred compensation
Live Question & Answer Session - Get real answers to your specific questions!
About the Speaker
Vicki M. Lambert, CPP, is President and Academic Director of The Payroll Advisor, a firm specializing in payroll education and training. The company's website www.thepayrolladvisor.com offers a payroll news service which keeps payroll professionals up-to-date on the latest rules and regulations.
- With over 35 years of hands-on experience in all facets of payroll functions as well as over 20 years as a trainer and author, Ms. Lambert has become the most sought-after and respected voice in the practice and management of payroll issues. She has conducted open market training seminars on payroll issues across the United States that have been attended by executives and professionals from some of the most prestigious firms in business today.
- A pioneer in electronic and online education, Ms. Lambert produces and presents payroll related audio seminars, webinars and webcasts for clients, APA chapters and business groups throughout the country. Ms. Lambert is an adjunct faculty member at Brandman University in Southern California and is the creator of and instructor for their Practical Payroll Online program, which is approved for recertification hours by the APA. She is also the Program Developer, Subject Matter Expert (SME), and Facilitator for the Certificate in Payroll Practice and Management Program offered by Cengage Learning / Ed2Go through hundreds of colleges and universities across the country.
Join our 60-minute program to get the information you need to accurately issue and report the final payment to terminated employees. Don't risk costly penalties for non-compliance with state and federal requirements.