Student Loans/ Wage Assignments
The most common wage assignment
What is the administrative wage garnishment?
A garnishment owed to a person or financial institution.
What is a creditor garnishment?
What is an answer?
The process of manually adjusting an employee's remaining amount due in form 2
What is a balance update?
What report can you use to see if the client has paycom pay?
net pay register report
How should we handle a voluntary wage assignment?
Paycom requires special documentation to set these up.
A garnishee is:
the employer of the garnished employee
When filling out an answer, you will use these three employee forms the most.
Form 1, Form 2, and Form 12
When the amount withheld reaches the ______, the system will stop withholding the deduction.
What is the first question you should ask when you get a checks email and have no idea where to start?
Are they a garnishments client?
Which Act allows federal agencies to garnish the wages of individuals who owe a debt without first obtaining a court order?
The Debt Collection Improvement Act of 1996
Creditor garnishments have two parties: a ______ and a ________.
Plaintiff and Defendant
A judgment could be filed against the employer, but since Paycom is the garnishment administrator, we could be held liable for the mistake, and have to pay part or all of the garnishment.
True/False: A balance update will always include the payment breakdown
You get a question from a client about a garnishment, but they have no first payroll in the system. What should you do?
Refer them to the product setup ream since that team takes care of existing garnishments.
Which of these states does not commonly have voluntary wage assignments?
Utah,Illinois,Ohio,Arizona,Colorado
Ohio
What is the priority percentage for non-hold creditor garnishments?
Depends on the state!
What does the answer let the agency know? (4 things)
Order has been received, any higher priority garnishments that will affect the order, the employee's wage after garnishments, order was processed according to state/federal guidelines
Name 2 of 3 possible identifiers for balance updates.
Shorter than typical order May contain payment table of last checks
You receive a question from a full-service garnishment client wanting you to verify their answer calculations. What should you do?
Let them know that we take care of answers for full service clients using the template.
What happens if someone sends in a payment for student loans currently?
Which four states do not allow for creditor garnishments?
North Carolina, Pennsylvania, South Carolina, Texas
What could happen if you don't submit an answer for a hold state?
They cannot file for an order to the court to send funds
What should you do on a balance update if the check is outside the 7 day rule?
No action is required-we will assume the check has already been deducted from that amount.
Explain the pros and cons of the net pay register report and the garnishment report
Garnishment Report
Pros: Goes back further, will show you all of the 3PP information (EFT and Address) and the employee that the payment is tied to
Cons: Does not tell you if they are Paycom Pay, which affects a lot of what we can do on the checks side
Net Pay Register Report
Pros: Tells you if they are Paycom Pay or not Paycom Pay
Cons: Only goes back a year at a time