Payroll Audit Reminder
The September 30, 2019 – September 30, 2020 workers’ compensation insurance policy period has been completed, which means it is time to complete the payroll audit. NYSIF will be reaching out to all Safety Group 554 members on how to complete the audit this year. Due to COVID restrictions, all payroll audits will be completed remotely, either by completing a self-audit form or by uploading payroll and financial documents via the NYSIF secure portal. Fleury Risk Management, our group manager, is available to assist group members with any questions or concerns regarding successfully completing this required process.
It is important to complete your workers’ compensation payroll audit as quickly and accurately as possible. This helps to ensure you are not only paying the correct insurance premium, but also expedites any potential premium credits you may be due. In addition, completing the audit process timely helps to ensure there are no delays in the delivery of any potential group dividend for the 2019-20 period once declared.