What's one way to get a multiemployer benefit plan working more effectively?
A payroll audit.
To ensure benefit plans are being funded correctly, trustees collect contributions from employers. How do trustees know they are receiving the proper amount of employer contributions? Through a payroll audit.
Why is a payroll audit important? A payroll audit looks at hours and wages reported by an employer for work that was done. Hours and wages are compared to employer contributions, making sure correct contributions are being received. This allows the benefit plan to work as effectively as possible.
Payroll Auditing, an easy-to-read guide on all things payroll audits
Attend an upcoming International Foundation event, like:
If you are an International Foundation member, search for "payroll" in this list of sample documents.
Chapter 31: Accounting and Auditing from Trustee Handbook: A Guide to Labor-Management Employee Benefit Plans, Revised Eighth Edition
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