Mistakes in employee benefits and human resources can be quite costly to employers—in the form of extra benefits, complaints, lawsuits, government-assessed fines and penalties, and attorney fees, to name a few. Don’t learn the hard way what these mistakes are. Browse the list below, and download the full copy of this whitepaper to learn the solutions to these common issues.
Below is just an overview of the common and costly mistakes. Download the complete whitepaper to understand more about each of the issues and solutions to minimize your risk.
- Not timely depositing employee contributions into qualified retirement plans.
- Not making matching and profit-sharing contributions on a timely basis.
- Incorrectly computing matching contributions.
- Late enrollment of employees into qualified retirement plans.
- No plan document or summary plan description.
- Not communicating SPD changes to participants.
- Using the wrong definition of compensation when computing retirement plan contributions.
- Failure to compare group disability insurance policies.
- Maintaining a health plan that is inconsistent with an HSA.
- Failure to recognize deferred compensation.
- Allowing employees to stay on group health coverage beyond the required time period.
- State/Federal FMLA coordination.
- Independent contractor/temporary employee issues.
- Misclassifying an individual as an independent contractor.
- Update your restrictive covenants.
- Misuse of performance evaluations.
- Contesting unemployment compensation for performance reasons
- Recalculating overtime when paying performance-based bonuses.
- Failing to clearly define when commissions are payable.
Need some help sorting this all out? Contact Seubert to get a dedicated Empoyee Benefits service team on your side to help your organization.