Contractors who pay union employees must submit remittance reports. There are more than 14 million union members in the United States, and over 10,000 pension funds are controlled by unions – which means that there are thousands of unique union remittance forms that may need to be filed by employers to remain in compliance with union rules. HCM TradeSeal automates union reporting to save your team time, and minimize the risk of reporting inaccuracy.
How unions receive benefits from employers
Union employers must pay employees according to union rules, including required payroll earnings and deductions. In addition, employers must also remit payments directly to each union local they contract with, or specific benefit plans as directed by each local.
Overall, the process of paying union benefits is similar to the process of paying into any other benefit plan such as a 401(k); however most labor unions require employers to follow strict reporting rules or to submit specific report formats.
HCM TradeSeal‘s union reporting technology enables your team to instantly generate remittance reports, even for multiple union locals.
Union reporting rules vary by local
Each time an employer enters into a collective bargaining agreement with a new union local, they will need to create new and specific processes to remit benefit payments to that local. Different union locals require different reports to be submitted, and sometimes require payments to be sent to different fund managers or benefit plans.
Depending on the union locals your company contracts with, your team may be required to prepare weekly or monthly reports. HCM TradeSeal generates reports instantly, and enables your team to select exact date ranges for reporting.
Union audits require highly accurate reporting
Any union employer may be subject to a union audit upon short notice. HCM TradeSeal‘s union reports can be generated for a specific month, week, day, year, or even for a specific employee or job.
Often, union auditors will ask for specific date ranges or job information. HCM TradeSeal‘s automatic reports make it easy to instantly access union information when your team needs it most.
Reporting on employees who work in two or more unions
Certain jobs or jurisdictions may require your union workforce to pay benefits into a different union local that is not their home local. HCM TradeSeal can automatically report specific employee hours to the correct local, even when employees work in multiple locals within a single pay period.
With HCM TradeSeal‘s union reporting technology, your team will be able to save hours or days on managing tedious reporting requirements.