Unemployment Compensation Fraud

The Commonwealth of Pennsylvania is currently experiencing an unprecedented number of fraudulent UC claims as part of a nationwide fraud attack on unemployment compensation. Employers can help identify and prevent payment on these claims by completing responses to Separation Information Requests through Sides E-Response. Accessing Sides E-Response is done using the new UC system; however, if you are unable to access the new system, the SIDES website can be accessed directly.

My What?

A 2020 survey by Franklin Templeton revealed that more than 60% of workers say they are struggling to capture a holistic view of their finances and 70% wish they had a “Fitbit for their finances.”

MyFi Guide is a free financial wellness guide for you and your employees.

As a thank-you for choosing Payroll Service Solutions for your payroll processing needs, you and your employees have access to a financial lifestyle portal. It features dynamic tools, interactive courses, and digestible content aimed at delivering a highly personalized experience.

Learn more about how financial education resources can improve your overall well-being as well as that of your employees.

To access this free service, go to our website, www.payrollservicesolutions.com, and select MyFi from the User Login tab. Enter user code aC9gtH1.

You will find many useful tools, topics, and courses to assist you with your financial wellness.

How Should Employee Files Be Organized?

It is recommended that you have five separate files for each employee. They are:

  • I-9s, which may be kept in a separate master file or binder
  • Medical file, for all medical records
  • Personnel file, to include employment information, performance reviews, and corrective actions
  • Payroll records file, for W-4s and any documents containing a Social Security number and any garnishments
  • Injury file, for employees hurt on the job, and including their claims, reports, and medical records pertaining to the work injury

 

Files should be kept in a secure location in a locked cabinet accessible only to those individuals with a legitimate need to review the information.

Which Insurance Types Does My Business Need?

As the owner of a business, you may be wondering whether you have all the right insurances and whether your limits are appropriate. Most small businesses will need a business owner’s policy. It combines business property, business liability, and business income insurance in one policy.

There are many insurances available to protect businesses in the event of catastrophic natural disaster, lawsuits, or claims against the business or an employee. You may want to consider cyber insurance if your business has considerable risk in this area.

Almost every state requires businesses to have workers’ compensation insurance, which provides financial support to employees due to a work-related injury.

In some cases, not having insurance or the proper insurance coverage can cause unnecessary strain on business finances. In today’s complex business world, there are new insurance issues to consider as well, such as cyber liability (for issues involving things like ransomware and cyber crimes), and employee practices liability (covering employee lawsuits against employers for a variety of office- or work-related alleged discriminations, including COVID-19-involved issues).

PSS can handle your workers’ compensation through our seamless Pay-As-You-Go reporting.

In addition to handling your workers’ comp, we can help with all your business and personal insurance needs. Call us today for a review of your insurance needs. Don’t risk not having the right insurance!

Want to Reduce the Risk of Fraudulent and Stolen Checks?

According to the IRS, for the 2021 tax filing season, 104.3 million refunds had been issued as of June 11. Fully 90% of those—nearly 93.9 million refunds—were paid by direct deposit. That’s an increase of more than 22% from the same time last year, when 83% of refunds had been made via direct deposit.

Not only is direct deposit a safe way of paying your employees, but it also saves you time and money. You will no longer have to worry about lost checks and issuing stop payments. In addition, your bookkeeping will be reduced, and employees will be paid timely. No bank account? No problem! PSS can issue debit cards for any employee who does not have an account. It is fast and easy to set up. Call us today to get started!

Get Rewarded with the PSS Referral Bonus Program

We are offering a $50 Amazon gift card for each new client that you refer to us. To earn one (or more), simply tell your friends and associates about PSS and the services we offer.

If they would like to learn more about all of our services, have them contact Lisa Cerrone by emailing lisac@payrollservicesolutions.com or calling 215-624-0922 and providing their contact information; she will then explain anything that is unclear and get them signed up, letting you know this has happened.

When your referral successfully becomes a new customer, our team will send you a $50 Amazon Gift Card or you can choose to apply a $50 credit to your account.

This is a win-win: We can all use some extra cash and your signed-up referral gets to experience our excellent customer service and support.

Fun Fact:

The first insurance company

Did you know Ben Franklin founded the first insurance company in the U.S.? It was opened in 1752 and was called the Philadelphia Contributionship.