Creating salary or coverage rate table contribution rules
- Select Benefits > Plans > Benefit Plans.
- On the Benefit Plan Contributions tab, click Create.
- Select a Coverage Class, Benefit Group, and the Contribution Start Date.
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Specify this information for all Contribution Types:
- Contribution Tax Type
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Select whether the employee contributions are pre tax, after tax or both. If employee contributions are no allowed for the plan, select No Employee Contribution.
Note: This field must match with the deductions attached to the plan. - Default Tax Type
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Select a Default Tax Type when the Contribution Tax Type is Both.
- Currency
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Select the currency in which to display tax type.
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If Coverage Type is
Coverage Amounts, specify this information:
- Include Amount Subject To EOI
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Select this check box if the amount that is subject to EOI is included when determining the contribution.
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For Salary or Coverage Rate table, specify this information:
- Rate Table
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Select the table that the application uses to calculate contributions.
- Contribution Basis
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Specify Coverage or Salary.
- Cost Per Coverage Increment
- If Coverage Class is Employee, specify contributions based on years of service.
- Specify contributions based on age.
- Specify contributions based on salary.
- Optionally, define how adjustments are to be calculated.
- Click Save.