Creating calculations
Calculations are formulas that can be used to determine adjustments for starts, stops, retroactive starts, and retroactive stops of benefit enrollments and flex benefit periods.
See Calculating adjustments for contributions.
You can specify parameters for the calculation, or you can use a custom compute.
- Select Benefits > Setup > Calculations.
- Click Create.
- Specify this information:
- Benefit Calculation
- Specify a name for the calculation.
- Description
- Provide a description of the calculation.
- Period
- Select Pay Period or Monthly to indicate the period to which the calculation applies.
-
If you are not using a custom compute, specify this information
in the fields under Calculation:
- Beginning Value
- Select the beginning value for the calculation:
- Deduction Amount: The next amount determined for each deduction for the enrollment. For flex benefit periods, this is the amount on the standard time record.
- Annual Contribution: The annual contribution as shown on the main tab of the enrollment for each contribution. For flex benefit periods, this is the annual cash amount.
- Date Compare
- Select the starting point in time for the calculation. This is
used to determine the number of days in the period or the number of
missed periods (from the selected date to the current date). Select
one of these options:
- Benefit Start: Start date of the individual’s benefit enrollment or of the flex benefit period.
- Deduction Begin: Start date of the deductions or standard time records for the individual’s benefit enrollment or flex benefit period.
- Benefit End: End date of the individual’s benefit enrollment or of the flex benefit period.
- Deduction End: End date of the deductions or standard time records for the individual’s benefit enrollment or flex benefit period.
Specify this information in the Divide By section:
- Number of Days
- Select the number of days by which to divide:
- Period Days: Number of days in the period that was selected for the calculation. For example, if the employee is paid bi-weekly and the period is Pay Period, then the number of days would be 14.
- Covered Days: Number of days in the selected period that the individual’s benefit enrollment covers. For example, the period is Pay Period, the individual is paid semi-monthly, and the Date Compare field is set to Benefit Start. If the benefit start date for the individual is January 10, 2017, then the covered days would be 6. They were covered January 10 through January 15.
- Not Covered Days: Number of days in the selected period that the individual’s benefit enrollment does not cover. Using the example for Covered Days, the not covered days would be 9.
- Missed Periods: Number of periods that are in the past. Using the example for Covered Days, if this enrollment was entered, or finalized, on February 10, then the missed periods would be 2. The missed periods were January 1-15 and January 16-31. The period that the enrollment was entered in is the current period and is not missed.
- Amount
- Specify an amount to divide by, if applicable.
Specify this information in the Multiply By section:
- Number of Days
- Specify the number of days to multiply by. The options are the same as for the Number of Days field under Divide By.
- Amount
- Specify an amount to multiply by, if applicable. For example, you might multiply by -1 to indicate that the calculated amount is a credit.
-
If you are using custom computes, specify them in the fields
under Or Custom
Computes. Do not specify both a calculation and a custom
compute.
You can specify custom computes to use for employee benefits, COBRA participant benefits, and flex benefit periods. The selected custom compute will only be used for the business class on which the calculation is being performed. for example, if the custom compute is for the Employee Benefit, it will not produce results for the COBRA Participant Benefit.
- Click Save.