Compliance and Benefit Administration Checklists
iSolved Solution Checklist
If you are looking for the right workforce management solution for your business, you may be on information overload.
A solution for comprehensive HR, payroll and talent management is one investment that has tremendous impact on your entire business - a solution that should provide the functionality you really need and want.
You must take many factors into consideration to evaluate vendors and solutions to find the right fit for you. In fact, the research to make an informed decision may be more difficult than the decision itself.Use our solution checklist in your search to find the leading-edge workforce management solution that's right for you.
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Workforce Management delivered from one provider
___HR, payroll and talent management in a single solution with a single point of entry for global possibilities
___Common business rules across multiple Workforce Management areas
___Security across multiple Workforce Managment areas
___Workflow between areas such as HR, payroll, benefits and more
___User interface for multiple Workforce Management areas
SaaS: Worldwide secure access at anytime
___Software as a Service (SaaS) solution provides easier use and reliability
___Access your data from anywhere at anytime
___Vendor maintains, manages, upgrades and provides recovery
___Vendor participates in audits and certifications on it SaaS solution such as ISO/IEC 27001:2003 Certification, SAS 70 Type II audits and Safe Harbor Compliance
___24/7 role based web access
Analytics/IT: Rapid and accurate business intelligence reporting
___Business intelligence tools delivered fully integrated with a unified HCM solution
___Ability to access data and leverage BI across the entire HCM platform
___Built in workforce analytics (turnover, overtime, benefits)
___Create your own custom reports
___Analysis tools (graphs, charts, etc.)
___Event notification tools (review alerts, excess overtime, etc.)
___Role based tools
Payroll processing: convenience, speed and control
___Process payroll with an Internet connection, anywhere, anytime
___Payroll syncs with time and attendance
___Void payments/make payroll adjustments instantly
___Print off-cycle checks instantly
___Federal, state and local tax updates applied automatically
Activation: on time and on budget
___Activation managed by provider
___Standard activation averages six months or less
___Standard solution training at no additional fee
___Fixed activation fee
Customer support: expert, single point of contact service 24/7
___Dedicated customer service representative
___Support representative with certified payroll or HR professional designations
___Vendor has earned Service Capability & Performance certification
Does your company meet the stringent IRS and DOL COBRA requirements? Just one inadvertent COBRA error can result in penalties and lawsuits. Use our checklist to see where your company stands.
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COBRA Compliance Guidelines under TAMRA (Technical and Miscellaneous Revenue Act)
___Proof of COBRA training
___Written COBRA procedures (manual with instructions)
___Documentation of program design (when first subject to COBRA) and program updates (through present) based on competent professional advice
___Documentation of program monitoring, by a qualified independent third party
To ensure compliance with an IRS audit, all FOUR check marks are necessary
COBRA Notices (required unless otherwise specified)
___General Notice (required when employer is first subject to COBRA or participant is first enrolled in plan)
___Qualifying Event Election Notice
___Notice of Unavailability
___Extension Notice (recommended to confirm new period of coverage and communicate late charges)
___Conversion Notice (if applicable)
___Premium Billing Notice (recommended as grace period reminder and regular communication method)
___Notice of Early Termination of Coverage
___Notice of Insignificant Premium Underpayment
___Notice of Plan Changes (e.g., open enrollment and rate changes)
___Expiration Notice (recommended to confirm end of COBRA coverage)
TEN check marks indicate a complete COBRA program
___Premium billing (recommended)
___Insignificant premium underpayments
___Complete and accurate disclosure to health care providers
___Coverage cancellation (voluntary and involuntary)
___Confirmation of correct election (recommended)
___Reasonable notice procedures for Qualified Beneficiary
SIX check marks indicate proper compliance
___Documentation of each notice sent (including proof of mailing)
___Documentation of COBRA dates (29 dates possible per Qualified Beneficiary)
___Documentation of notice language updates
___Documentation of procedural updates
___Documentation of events reported to employer/plan administrator for divorce/dependent events
___Documentation of payments received (including how to handle HCTC payments in light of 2011 changes to the law)
SIX check marks may be necessary to PROVE compliance if challenged
If you've completed the COBRA Compliance Review and you scored less than 100%, Infinisource can help!
Your Flexible Benefits Administration (FBA) Checklist
Do you send the right forms at the right time? Are you
compliant with all the IRS and DOL requirements?
Show the FBA Checklist
Documentation & Recordkeeping
___ Plan Documents, showing how each ERISA plan will operate and for the Cafeteria Plan itself
___ Summary Plan Descriptions (SPDs) and Summaries of Material Modifications (SMMs) for each ERISA plan
___ Special wording for limited-purpose and/or post-deductible FSA/HRA designs
___ Maintenance of all records necessary to maintain tax-exempt status of plan(s)
___ Adult child eligibility provisions
___ Provisions for grace periods (if applicable)
___ Special rules for electronic payment cards (if applicable)
Policies and Processes
___ Process for substantiating all expenses to ensure they are eligible for reimbursement
___ Valid nondiscrimination testing procedures and corrective processes
___ Process for permitted and prohibited midyear election changes
___ HIPAA-compliant transmission and storage of all protected health information
___ Adherence to the Uniform Coverage Rule and Use-or-Lose Rule
___ Pay-and-chase procedures (for electronic payment cards)
Notices and Forms
___ Reimbursement Claim form
___ Election form(s)
___ Information for Form 5500 processing
___ Proper reporting of information on Form W-2
___ Compliance with new rules under the health care reform law, the Affordable Care Act
(e.g., over-the-counter drug prohibition)
___ Compliance with complex rules for §132 Transportation Plans
___ Ordering rules between a Health FSA and HRA
___ COBRA and HIPAA-related notices (if applicable)
___ Required Medicare Secondary Payer (MSP) reporting for HRAs
If you've completed the Flexible Benefits Compliance Review and you scored less than 100%, Infinisource can help!
Your Payroll Checklist
Do you have employees or contract help? Do you pay overtime properly? Payroll just isn't simple anymore. Use our checklist to see where you may be making costly payroll errors.
Show the Payroll Checklist
Do your payroll records include:
___ Vital employee information?
___ Copies of work permits for minors?
___ Job descriptions for every employee?
___ Total compensation and date paid per period?
___ Tips and noncash payments to employees?
___ Wage continuation payments to absent employees?
___ Amounts and dates of tax deposits?
___ Copies of filed Forms 941, 940, W-3, Form W-2s (copy A) and any returned W-2s?
___ Amounts and dates of state unemployment tax paid?
___ W-4 form for each employee?
___ Employee tip reports?
___ Fringe benefits provided?
___ Regular rate of pay for overtime weeks?
___ Hours worked each workday and workweek?
___ Straight-time earnings and overtime earnings?
___ Additions or deductions from wages, including dates, amounts and nature of items?
White Collar Exemptions
Do you deduct any wages from exempt employees for:
___ Unpaid absences of less than a full day?
___ Lack of work available?
___ Jury duty absence of less than a week?
___ Damage to company property?
___ Failure to return company property?
___ Failure to meet goals?
___ Time and attendance infractions?
___ Failure to meet performance expectations?
Nonexempts and Overtime
When calculating overtime, do you include:
___ Shift differentials?
___ Signing bonuses?
___ Nondiscretionary bonuses and attendance bonuses?
___ Incentive pay?
___ Sales awards?
___ Production incentives?
___ Efficiency awards?
___ On-call and hazardous duty pay?
___ Gift certificates or gift cards given for achieving goals?
___ Per diem expense reimbursements for normal everyday expenses (gas money)?