Compliance

Leaving a "problem" employee undisciplined can lead to significant cultural problems in the workplace and have detrimental effects on business operations, but strategies can be utilized to help mitigate risk while achieving business interests.

While the DOL continues to try to refine its fiduciary rule, with the latest iteration sent to the Office of Management and Budget for review last month, there are several best practices that protect plan sponsors as well as participants.

The complaint claims the company failed to pay his unused paid personal time after separating from the company and engaged in unfair business practices in violation of California law.

Payroll leaders said their organizations use, on average, six different payroll management tools.

"Having a written policy in place that puts the company in compliance with the ADA and the FMLA, as well as any state law equivalents, is a critical step to help minimize potential liability," says Chris Williams.

So far, 500 employers who improperly received the tax credits to retain workers during the pandemic have returned more than $225 million to the IRS as part of a voluntary disclosure program that ended on March 22.

Misconduct may be increasing in some industries compared to others that have embraced work from home or hybrid work environments.

Over the last two years, a compliance tidal wave has loomed over employers and their benefit advisors. The crest of this massive wave has begun to touch down upon fiduciaries of employer groups, so how can benefit advisors stay dry?