Preparing for Year-End in HR – Including ACA Compliance
As the end of the year approaches, it is important for those who own the HR function to look back on the year and take stock of what they have completed, as well as what still is left to be done. The last 8 weeks of the year can be overwhelming in HR given all the time-sensitive items that need to be addressed, the one-time events and projects one has to manage, as well as new compliance, reporting, and filing impacts brought about by the Affordable Care Act. So how does one assemble a checklist for this critical period? We can help.
Spend an hour with us and we’ll offer some solid advice and direction.
In this fast moving and highly informational webinar, we will cover in concise, simple terms:
- Benefits Renewal / Strategies to Consider – A review of the various steps, areas of consideration, and ideal timeline for planning to address plan renewals, as well as a review of ACA guidelines as it pertains to “affordable care”, requirements, and penalties for failing to comply.
- Open Enrollment – Best practices when administering a smooth and organized process for educating employees, including gathering all required paperwork.
- Forms 1094/1095 – Filing / Reporting deadlines as set by the IRS, data needed and ways to extract it, and services available from some payroll providers.
- Bonuses and Increases – Establishing and executing a timeline for securing the needed information that will deliver these on time and in sync with goals and objectives.
- Payroll for Year-End – Establishing a plan for the additional time needed to process compensation changes, updates to benefit expenses, resetting 401k, bonuses, etc.
- Time Off Management – Tips for ensuring that time off accrued by your employees is taken, minimum staffing levels are achieved at all times, and carryovers are at a minimum.
- Preparing for Turnover – Steps to take if your firm pays bonuses only to those who stay for bonus payday and the resulting potential of resignations.
- Analyzing the Calendar – Timeline planning that considers 9 weeks filled with time off due to holidays and vacations.