Examine the rules and responsibilities regarding abandoned wages.
If your payroll department is not handling unclaimed wages properly, you could be placing your company at risk for huge audit assessments, significant interest accumulations, and civil and criminal penalties. If your company issues any type of employment check, it is your responsibility to ensure that your company is holding unclaimed wages properly and in accordance with the law. It is estimated that 15 to 20 percent of businesses currently comply with unclaimed property laws. However, many companies are not aware of their reporting responsibilities and may just write off unclaimed property. This can cause your company fines for failure to report unclaimed wages.
Jackie A. Sexson
- Compliance manager with Fortune 250 company
- Former executive director with the legal and human resources consulting firm, The Sexson Group
- Extensive experience in employment and labor law, as well as human resources
- Has a legal and HR background in employee relations, performance management (360-degree feedback), organizational management, benefits administration, recruitment and selection, compensation, equal employment opportunity, and training and development
- Experience with the public sector, Fortune 500 companies, and small startup companies
- Held director and executive-level positions and worked as an independent consultant
- Certified as a senior professional in human resources by the Society for Human Resources Management
- J.D. and M.B.A. degrees
- Can be contacted at 303-513-6018 or [email protected]
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