When an employee has a change in status, such as adding or subtracting dependents, or submits a new W-4 withholding form, you'll record that information and verify that the payroll system is updated. Filing is a large part of the job.
For instance, if a policy expired on January 1, 2007, the data included on the Experience modification would comprise the period from January 1, 2003 to January 1, 2006. Experience modifiers are normally recalculated for an employer annually. Each year, a newer year's data is added to the three-year window of experience used in the calculation, and the oldest year from the prior calculation is dropped off. The other two years worth of data in the rating window are also updated on an annual basis.
Homeowners facing a major financial hardship that could lead to a foreclosure may work with a lender to get a loan modification â sometimes called a mortgage modification, workout plan or restructuring â which will change the terms of the mortgage loan so the borrower can afford the payments. To do this, the lender may allow the homeowner to refinance the loan, pay a lower interest rate, extend the term of his loan, skip payments and add them to the total loan amount or roll past-due ...