Payroll Audits: Why You Need to Stay Ahead

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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.

Educational resources

Page through Payroll Auditing, an easy-to-read guide o​n all things payroll audits

Attend an upcoming Inter​national Foundation event, like:

• Collection Procedures Institute
• Trustees and Administrators Institutes
• Accounting and Auditin​g Institute​​​​
• U.S. Annual Employee Benefits Conference

If you are an International Foundation member, search for "payroll" in this list of sample docu​ments.

Chapter 31: Accounting and Auditing from Trustee Handbook: A Guide to Labor-Management Employee Benefit Plans, Revised Eighth Edition

Hear from International Foundation expert Julie Stich, CEBS by reading her blog