Defining flex credit rate tables

Age and service rate tables are also used to define company and employee costs for a benefit plan. See Defining Contribution Rate Tables.

You can use rate tables to define flex credit amounts based on age, service, number of dependents, and lifestyle credits. The application calculates the flex credits using an amount or percent.

When you assign a rate table to a benefit plan's flex credit record, the rate table's start date must match the start date of the flex credit record. Use this procedure to define flex credit rate tables.

  1. Access Rate Table Menu (BN02.6).
  2. If you want to base flex credits on age, then select Age Rate Table (BN02.1).
  3. Define the age rate table. Use these guidelines to specify the field values:
    Company

    Select the company.

    Table

    Specify a code and description that represents the rate table in the Table field.

    Rate table codes must be unique among rate table types. For example, if the code for an age rate table is 2A, then another type of rate table cannot also use the code 2A.

    Start Date

    Specify the start date of the rate table.

    The same rate table can have many start dates to accommodate rate changes. When you assign a rate table to a flex credit record, the rate table's start date must match the start date of the flex credit record. If you add a new rate table with a new start date, then you must also add a new flex credit record.

    Amount or Percent

    Select whether contributions are an amount or a percent.

    Currency

    Select the currency that you want to assign to this rate table. If you leave this field blank, then the company currency is set as default, only if the company is not multi currency.

    Note: Any rate table associated with a flex plan must have the same currency as the flex plan.
    Beg Age

    Specify the starting age for the flex credits you are defining. The application calculates the ending age for the age range. At least one age range is required.

    Note: Leave this field blank to begin the first range with zero.
    Flex Credits

    Specify the amount that you want to give as flex credits next to the corresponding age range.

  4. Select the Add form function
  5. If you want to base flex credits on service, then select Service Rate Table (BN02.3).
  6. Define the service rate table using these guidelines:
    Company

    Select the company.

    Table

    Specify a code and description that represents the rate table in the Table field.

    Rate table codes must be unique among rate table types. For example, if the code for an age rate table is 2A, then another type of rate table cannot also use the code 2A.

    Start Date

    Specify the start date of the rate table.

    The same rate table can have many start dates to accommodate rate changes. When you assign a rate table to a flex credit record, the rate table's start date must match the start date of the flex credit record. If you add a new rate table with a new start date, then you must also add a new flex credit record.

    Currency

    Select the currency that you want to assign to this rate table. If you leave this field blank, then the company currency is set as default, only if the company is not multi currency.

    Note: Any rate table associated with a flex plan must have the same currency as the flex plan.
    Beg Year

    Specify the lower value of the years-of-service range for the flex credits you are defining. The application calculates the ending year of service for each range. At least one years-of-service range is required.

    Note: Leave this field blank for the first range to begin with zero.
    Flex Credits

    Specify the amount that you want to give as flex credits next to the corresponding year of service range.

  7. Select the Add form function.
  8. If you want to base flex credits on dependents or lifestyle credits, then select Credits Rate Table (BN02.4).
  9. Define the credit rate table using these guidelines to specify the field values:
    Company

    Select the company.

    Table

    Specify a code and description that represents the rate table in the Table field.

    Rate table codes must be unique among rate table types. For example, if the code for an age rate table is 2A, then another type of rate table cannot also use the code 2A.

    Start Date

    Specify the start date of the rate table.

    The same rate table can have many start dates to accommodate rate changes. When you assign a rate table to a flex credit record, the rate table's start date must match the start date of the flex credit record. If you add a new rate table with a new start date, then you must also add a new flex credit record.

    Currency

    Select the currency that you want to assign to this rate table. If you leave this field blank, then the company currency defaults, only if the company is not multi currency.

    Note: Any rate table associated with a flex plan must have the same currency as the flex plan.
    Beginning Number

    Specify the number of dependents or lifestyle credits for this range.

    Flex Credits

    Specify the number of flex credits employees receive for the number of dependents or lifestyle credits indicated on this detail line.

    The lifestyle credits are entered and maintained on HR11.

  10. Select the Add form function.