Standard Time Records

A standard time record represents an employee's flex credits that are added to his or her taxable wages.

If the flex plan lets employees add unspent flex credits to their taxable wages, the Benefits Administration application creates or updates standard time records for each employee when the Benefits Administration application creates flex credits for the employee on Employee Flex credits (BN45.1) or Flex credits Calculation (BN145) and when the employee enrolls in a benefit with a negative premium. A negative premium means that an employee receives flex credits for electing the benefit.

If the flex plan does not let employees add unspent flex credits to their taxable wages, the Benefits Administration application does not create standard time records.

Each employee under a flex plan can have either

• One standard time record that represents all flex credits that are added to the employee's taxable wages

• Multiple standard time records that represent the flex credits the employee receives for each benefit with a negative premium

The number of standard time records an employee can have depends on whether a flex pay code has been assigned to each benefit plan. If each benefit plan is assigned a flex pay code, each benefit creates a standard time record. If a flex pay code is assigned only to the flex plan, each employee has only one standard time record that is updated for all flex credits received.

The amount of the standard time record calculates as follows:

The divisor of the employee's pay frequency is from the flex plan's frequency table.

The Unspent Taxable Dollars is from Flex Credits (BN08.1) and determines the percent of an employee's flex credits that can be added to his or her payment. For example, if a plan lets each employee keep half of his or her unspent flex credits, the value of the Unspent Taxable Dollars field is 50 percent.

When employees have used all of their flex credits that can be added to taxable wages, the Benefits Administration application deletes the employee's standard time record.

If the Unspent Taxable Dollars field is zero, the Benefits Administration application does not create standard time records for employees because they lose any of their unspent flex credits.