Employment (Focus & Forum)
Oct. 25, 2008
For Employers, Payback's a Cinch
Although many types of property may be subject to escheat laws, employers are generally left holding unpaid wages, commissions, bonuses and IRA or Keogh accounts, writes Colleen M. Regan. - Employment Column
EMPLOYMENT COLUMN
By Colleen M. Regan What happens to an employee's final paycheck when the employee quits without collecting it? What if efforts to deliver it to the ex-employee fail? Say the check is delivered but is never cashed. How about unclaimed 401(k) or retirement benefits? What is the employer's duty regarding these unpaid funds and benefits? The answers to these questions are found in the law of unclaimed property, also known a...For only $95 a month (the price of 2 article purchases)
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