What is a Benefit Company?

Infor uses a benefit company to hold the parameters that are specific to your plans. This benefit company is associated with the Human Resources company you previously set up.

Benefit Company Parameters

These defaults are specific to your benefit plans. The parameters include the following:

  • General Ledger account you want to use for cash received from invoice payments

  • Invoice billing dates for retirees and COBRA participants

  • Whether health, dental and dependent life plans will track dependent coverage

  • COBRA occurrence types

  • Rates to calculate taxable amount for reportable group life insurance