|
|
|
|
How it Works
Once a business has made the decision to offer our service (1),
we will design a plan especially for their workforce. The following
features are customizable to each company’s needs:
• Dollar Range of Loan Amounts Employees May Request (ex: $500
to $5,000) (2)
• Required Length of Employment
• Employment Verification Procedure and Timeline
• Reporting/Billing Procedure and Schedule
After the plan features that work best for the company have
been selected and a start date for the program has been established,
WorkersChoiceUSA
will provide the following:
• All Loan Funds –Delivered Directly to Employees
• Employee Brochures – The Only Resource Employees Need to Access
Their Benefit.
• Online/Phone Request Options for Employees – Quick and Convenient
• HR/Payroll Implementation Procedures
• Online Verification and Invoice History - Available 24/7
• On-Site Benefit Orientation for Benefit Launch (optional –by
request)
• Dedicated, Available Support for Human Resources and Payroll
personnel, and for Employees
Entering information into employee payroll accounts is generally
a one-time event, depending on the payroll platform being
utilized.
Once the program has been implemented, the company will receive
a utilization report and invoice every pay period listing new
loans, current loans, and completed loans. The invoice indicates
how much to withhold from wages, and the dates on which wages
need to be withheld for every employee receiving a loan. Entering
a WCUSA deduction is as easy as entering any benefit deduction
– most electronic payroll systems will only require a one-time
entry into the employee’s payroll account.
The payments withheld can be forwarded to WorkersChoiceUSA
by electronic debit, EFT, ACH or check, and businesses can access
their verification and invoice history online at any time.
(1)The product provided by WorkersChoiceUSA
is a loan or line of credit, depending on employee’s residence.
See product disclosures for more details.
(2)The actual amount of loans may vary based on employer specifications,
employee’s income, employee’s residence, and other factors,
and is never more than half of an employee’s monthly income. |
|
|
|
|
About the Program