Final Paycheck: Handling Terminated Employees

Dayna J. Reum, CPP, FPC

Dayna J. Reum, CPP, FPC

Dayna is currently the Director of Payroll Operations at a major medical center in Chicago. Dayna has been heavily involved in the payroll field over 20 years. Starting as a payroll clerk at a small Tucson company, Dayna moved on to be a Payroll Team Leader at Honeywell Inc. During Dayna’s time at Honeywell she obtained her FPC...
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60 Mins
Dayna J. Reum, CPP, FPC

Federal & State Laws Affecting Final Pay Check for Terminated Employees

This webinar by industry expert Dayna J. Reum, CPP., will review the issues in detail, that employers face when paying terminated associates. Dayna will review everything from final pay to stock options and payments to employees that may occur years after they terminate, along with reviewing the difficult situation when you must pay terminated employee’s legal settlements.

Dayna will also cover the tax implications and how to handle taxes and several different types of termination pay. Due to the complexity of payments and laws in several states protesting terminated employees, it is important for payroll to understand these laws to ensure compliance.

During the session, Dayna will discuss the laws of all 50 states in regards to final pay and pointers on how to comply when in multiple states.

Webinar Objectives

  • If a multi-state employer this webinar is a must to make sure that an employer is compliant with final pay laws.
  • This webinar will give the better understanding of which states DOL laws to follow
  • How the properly handle final pay for employees that are deceased
  • Terminations that turn into legal settlements and they should properly be handled.

Webinar Agenda

  • Review of different types of term pay from vacation pay to golden parachute payments.
  • Discussion around Stock options and Deferred compensation after termination
  • Taxation concerns in regard to payments made to terminated employees
  • Timing of final pay for terminated employees including state law requirements
  • Year end concerns
  • Discussion around death payments paying and reporting
  • How to handle legal settlements
  • Record Retention Concerns
  • Best Practices

Who Should Attend

Payroll and Tax Professionals

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IRS CPE Credits: 1 Tax hour

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