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WorksheetsSFRP August 2023 Knowledge Check
Total questions: 10
Worksheet time: 3hrs 30mins
What are the attendance impactful dates for August?
08/01, 08/08
08/05, 08/12
None
08/12, 08/26
A Payroll Representative can call in and obtain information even if their name is not on the account
True
False
Callers are not to be directed to FTB (Franchise Tax Board) unless they are calling about any of the below acceptable circumstances:
ER already took action but received notice anyway.
ER has specific questions on how to pay the penalty
ER wants to exempt but does not offer another qualified retirement plan.
ER has specific questions on how to appeal the penalty notice.
Program fees should always be disclosed when processing distributions.
True
False
3rd party calls in without Saver for check verification:
Rep can assist 3rd party as long as provides only information about the check. Check information is not considered account information.
EE must be able to get into the line to be authenticated and give one-time permission to disclose information at the time of the call.
Rep can advise 3rd party to call back with Saver on the line or when present at the site.
As long as 3rd party can provide 3 pieces of information and get authenticated, any information can be provided in this particular case.
Rollover/transfer out checks should only have the other institution’s name as payee and not “FBO account owners”:
True
False
If a CA ER has EE in CA and out of the State:
Only EEs who live in CA and receive CA wages need to be added.
Out of State EEs can be
added as well.
Only EEs that are reported in CA and receive CA wages need to be added.
Only EEs that live in
CA can be added.
ER compliance talking points can be found in Panviva:
False
True
Non-compliance notices were recently sent to:
CA Wave 3
CA Wave 1
Wave 2022
Wave 2023
What is the reason some check cashing places feel they can't cash a distribution check?
It is drawn from an ZBA account.
Many times tellers aren't familiar with this type of account and need to
speak to a banker or manager.
ZBA accounts are a way companies prevent fraud.
