Define benefit plan parameters
When you define a benefit plan, you identify the benefit type and then define specific parameters for that benefit type. For each plan, you define coverage and contribution types. Entry rules, coverage, contributions, and general ledger overrides of the deduction accounts are unique by employee groups.
This table shows the different procedures that you can use to define your benefit plans:
Procedure | Description |
---|---|
Defining Benefit Categories | Tasks to define categories for benefit plans. |
Defining Primary Benefit Plan | Tasks to define the primary information every benefit plan uses. |
Defining Vesting and Covered Compensation | Tasks to define compensation, vesting and reporting requirements for defined contribution and defined benefit plans. |
Defining Investment Options | Tasks to define investment accounts for defined contribution plans that offer employees a choice of accounts in which they can invest contributions. |
Overriding General Ledger Accounts | Tasks to override the general ledger accounts on deductions an pay codes for an employee group. |
This diagram shows the relationship between Benefit Plans setup: