PremiumAmountBaseRate
The PremiumAmountBaseRate
actions are
typically shift or overtime actions. When you create a PremiumAmountBaseRate
action, you must specify an amount. The amount is
either an hourly rate or an annual rate, depending on whether the position is hourly or
annual.
You can also specify the number of hours or an FTE value, depending on whether the position is hourly or annual. If you do not specify the number or hours or an FTE value, base hours or base FTE values are used for calculations.
Calculation formulas
For hourly positions, the formula for calculating a PremiumAmountBaseRate
type action for a specific
period is:
Period value = Rate for this period x Action hours x Number of pay periods x Phasing factor for this period
For annual positions, the formula for calculating a PremiumAmountBaseRate
type action for a specific
period is:
Period value = Rate for this period x Action FTE x Phasing factor for this period
If the definition from which the action is created contains Shift Differential = Yes
, Rate for this period
is calculated using the action amount. If the
definition from which the action is created contains Shift
Differential = No
, Rate for this
period
is calculated by adding the action amount to the current base
rate. This calculation must account for the fact that the current base rate changes
over time.
Example 1: PremiumAmountBaseRate calculation for an hourly position
This example shows an hourly position with these settings:
- Number of pay periods: 12
- Phasing method: Even
For each period, the phasing factor is 1/12.
- This table shows the
PremiumAmountBaseRate
action for this position:Start date End date Amount Hours 2/15/16 6/15/16 $6 4 - This table shows the base rates and the corresponding start dates:
Start date Base rate 1/1/16 $10 4/16/16 $12
This table shows the action calculations for February through June, for the Shift
Differential = No
setting:
Month | Calculation of rate for this period | Rate for this period | Period value | Result |
---|---|---|---|---|
Feb | 14/28 x ($10 + $6) | $8 | $8 x 4 x 12 x 1/12 | $32 |
Mar | 31/31 x ($10 +$6) | $16 | $16 x 4 x 12 x 1/12 | $64 |
Apr | (15/30 x ($10 + $6)) + (15/30 x ($12 + $6)) | $17 | $17 x 4 x 12 x 1/12 | $68 |
May | 31/31 x ($12 + $6) | $18 | $18 x 4 x 12 x 1/12 | $72 |
Jun | 15/30 x ($12 + $6) | $9 | $9 x 4 x 12 x 1/12 | $36 |
This table shows the action calculations for February through June, for the
Shift Differential = Yes
setting:
Month | Calculation of rate for this period | Rate for this period | Period value | Result |
---|---|---|---|---|
Feb | 14/28 x $6 | $3 | $3 x 4 x 12 x 1/12 | $12 |
Mar | 31/31 x $6 | $6 | $6 x 4 x 12 x 1/12 | $24 |
Apr | 30/30 x $6 | $6 | $6 x 4 x 12 x 1/12 | $24 |
May | 31/31 x $6 | $6 | $6 x 4 x 12 x 1/12 | $24 |
Jun | 15/30 x $6 | $3 | $3 x 4 x 12 x 1/12 | $12 |
Example 2: PremiumAmountBaseRate calculation for an annual position
This example shows an annual position with these settings:
- Phasing method: Even
For each period, the phasing factor is 1/12.
- This table shows the
PremiumAmountBaseRate
action details such as start and end dates, amount, and the FTE value:Start date End date Amount FTE 2/15/16 6/15/16 $60,000 1 - This table shows the base rates and their start dates:
Start date Base rate 1/1/16 $100,000 4/16/16 $120,000
This table shows the action calculations for February through June with the Shift
Differential = No
setting:
Month | Calculation of rate for this period | Rate for this period | Period value | Result |
---|---|---|---|---|
Feb | 14/28 x ($100,000 + $60,000) | $80,000 | $80,000 x 1 x 1/12 | $6,666.67 |
Mar | 31/31 x ($100,000 +$60,000) | $160,000 | $160,000 x 1 x 1/12 | $13,333.33 |
Apr |
(15/30 x ($100,000 + $60,000)) + (15/30 x ($120,000 + $60,000)) |
$170,000 | $170,000 x 1 x 1/12 | $14,166.67 |
May | 31/31 x ($120,000 + $60,000) | $180,000 | $180,000 x 1 x 1/12 | $15,000.00 |
Jun | 15/30 x ($120,000 + $60,000) | $90,000 | $90,000 x 1 x 1/12 | $7,500.00 |
This table shows the action calculations for February through June with the
Shift Differential = Yes
setting:
Month | Calculation of rate for this period | Rate for this period | Period value | Result |
---|---|---|---|---|
Feb | 14/28 x $60,000 | $30,000 | $30,000 x 1 x 1/12 | $2,500 |
Mar | 31/31 x $60,000 | $60,000 | $60,000 x 1 x 1/12 | $5,000 |
Apr | 30/30 x $60,000 | $60,000 | $60,000 x 1 x 1/12 | $5,000 |
May | 31/31 x $60,000 | $60,000 | $60,000 x 1 x 1/12 | $5,000 |
Jun | 15/30 x $60,000 | $30,000 | $30,000 x 1 x 1/12 | $2,500 |