Year-End Benefit Plan Updates: Timing Deductions Right to Avoid Payroll Headaches
As the year comes to a close, most organizations prepare for benefit plan rate changes, updating employer contributions, employee deductions, and insurance premiums. But when exactly should those changes take effect? The answer isn’t always as simple as January 1.
In this session, we’ll explore how timing affects benefit and payroll accuracy, from rate updates that must begin before year-end to those that continue under prior-year rates for the first payroll of the new year. You’ll learn how to set effective dates correctly, align deduction schedules, and avoid costly mistakes that ripple across every employee’s paycheck.
Join us to understand these often-overlooked nuances and ensure your benefit plan updates start the new year on the right foot, without the new-year headaches.
