How an employer handles firing or laying off an employee on the front end can make all the difference imaginable on how the separation of employment actually takes place. A well-executed, carefully planned employee termination can avoid any serious stir in the workplace.
The Employee Termination report is only available during the termination process. It lists information regarding any direct deposits, garnishments, leave accruals, scheduled earnings and deductions. This report also lists any company assets that the employee has been assigned that will need to be returned before the employee’s departure.
For customers with the COBRA Integration service, data resulting from the termination is automatically sent to the COBRA Event System to prepare the required Qualifying Event Notice. Data included: benefit end reason, COBRA eligible benefits and coverage codes, and any dependents enrolled in the plans.