Defining Contribution Rate Tables
You use rate tables to define contribution amounts based on age, salary, service, and lifestyle credits. The application calculates the contributions using either an amount or percent.
When you assign a rate table to a benefit plan's contribution, the rate table's start date must match the start date of the contribution record.
There are four rate table forms you can use to define contributions based on rate tables. You access these forms from the Access Rate Table Menu (BN02.6).
| If you want to define | Then |
|---|---|
| Age rate table |
|
| Salary rate table |
|
| Service rate table |
|
| Credit rate table |
|
To define contribution rate tables
- Access Rate Table Menu (BN02.6).
- If you want to base contributions on age, select Age Rate Table.
-
Define the age rate table using the following guidelines:
- Company
-
Select the company.
- Table
-
Type 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, another type of rate table cannot also use the code 2A.
- Start Date
-
Type 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 contribution record, the rate table's start date must match the start date of the contribution record. If you add a new rate table with a new start date, you must also add a new contribution record.
- Amount or Percent
-
If this rate table is for a contribution record calculated as a flat amount, select amount.
If this rate table is for a contribution record calculated as a flat percent or percent of salary, select Percent.
- Currency
-
Select the currency you want to assign to this rate table. If you leave this field blank, the company currency defaults.
Note: Any rate table associated with a benefit plan must have the same currency as the benefit plan. - Beg Age
-
Type the starting age for the contributions 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. - Employee
-
Type the plan participant's contribution.
Note: A plan participant can be an employee, a retiree, or a COBRA participant.Contributions for employees can be a negative amount if the rate table is for a benefit plan under a flex plan. If the employee contribution is negative, an employee receives flex credits when he or she elects the benefit.
If the contribution is positive, the application creates employee deductions. If the contribution is negative, the application creates or updates a standard time record for the employee.
For COBRA participant contributions, include the administrative fee, if any. The application uses this field to determine invoice billing amounts for COBRA participant and retiree contributions.
- Company
-
Type the company's contribution.
For employee benefits, the application uses this amount to create company deductions. For retiree benefits, the application uses this amount to create company expense transactions.
This field is not valid for COBRA participant contributions.
- Flex Credits
-
If the rate table is for a benefit plan included in a flex plan in which employees receive flex credits for choosing the benefit plan, type the flex credits an employee receives for choosing the benefit.
If the plan gives flex credits to employees and there is no employee cost, the application creates or updates a standard time record for the employee with this amount.
If the plan gives flex credits and there is a cost to the employee, the application subtracts the employee cost from the flex credits.
This field is not valid for COBRA participant and retiree contributions.
- Select the Add function.
- If you want to base contributions on salary, select Salary Rate Table.
-
Define the salary rate table using the following guidelines:
- Company
-
Select the company.
- Table
-
Type 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, another type of rate table cannot also use the code 2A.
- Start Date
-
Type 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 contribution record, the rate table's start date must match the start date of the contribution record. If you add a new rate table with a new start date, you must also add a new contribution record.
- Amount or Percent
-
If this rate table is for a contribution record calculated as a flat amount, select amount.
If this rate table is for a contribution record calculated as a flat percent or percent of salary, select Percent.
- Currency
-
Select the currency you want to assign to this rate table. If you leave this field blank, the company currency defaults.
Note: Any rate table associated with a benefit plan must have the same currency as the benefit plan. - Beg Salary
-
Type the starting salary for the contribution 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. - Employee
-
Type the plan participant's contribution.
Note: A plan participant can be an employee, a retiree, or a COBRA participant.Contributions for employees can be a negative amount if the rate table is for a benefit plan under a flex plan. If the employee contribution is negative, an employee receives flex credits when he or she elects the benefit.
If the contribution is positive, the application creates employee deductions. If the contribution is negative, the application creates or updates a standard time record for the employee.
For COBRA participant contributions, include the administrative fee, if any. The application uses this field to determine invoice billing amounts for COBRA participant and retiree contributions.
- Company
-
Type the company's contribution.
For employee benefits, the application uses this amount to create company deductions. For retiree benefits, the application uses this amount to create company expense transactions.
This field is not valid for COBRA participant contributions.
- Flex Credits
-
If the rate table is for a benefit plan included in a flex plan in which employees receive flex credits for choosing the benefit plan, type the flex credits an employee receives for choosing the benefit.
If the plan gives flex credits to employees and there is no employee cost, the application creates or updates a standard time record for the employee with this amount.
If the plan gives flex credits and there is a cost to the employee, the application subtracts the employee cost from the flex credits.
This field is not valid for COBRA participant and retiree contributions.
- Select the Add function.
- If you want to base contributions on service, select Service Rate Table.e
-
Define the service rate table using the following
guidelines:
- Company
-
Select the company.
- Table
-
Type 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, another type of rate table cannot also use the code 2A.
- Start Date
-
Type 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 contribution record, the rate table's start date must match the start date of the contribution record. If you add a new rate table with a new start date, you must also add a new contribution record.
- Amount or Percent
-
If this rate table is for a contribution record calculated as a flat amount, select amount.
If this rate table is for a contribution record calculated as a flat percent or percent of salary, select Percent.
- Currency
-
Select the currency you want to assign to this rate table. If you leave this field blank, the company currency defaults.
Note: Any rate table associated with a plan must have the same currency as the plan. - Beg Year
-
Type the lower value of the years of service range for the contribution 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. - Employee
-
Type the plan participant's contribution.
Note: A plan participant can be an employee, a retiree, or a COBRA participant.Contributions for employees can be a negative amount if the rate table is for a benefit plan under a flex plan. If the employee contribution is negative, an employee receives flex credits when he or she elects the benefit.
If the contribution is positive, the application creates employee deductions. If the contribution is negative, the application creates or updates a standard time record for the employee.
For COBRA participant contributions, include the administrative fee, if any. The application uses this field to determine invoice billing amounts for COBRA participant and retiree contributions.
- Company
-
Type the company's contribution.
For employee benefits, the application uses this amount to create company deductions. For retiree benefits, the application uses this amount to create company expense transactions.
This field is not valid for COBRA participant contributions.
- Flex Credits
-
If the rate table is for a benefit plan included in a flex plan in which employees receive flex credits for choosing the benefit plan, type the flex credits an employee receives for choosing the benefit.
If the plan gives flex credits to employees and there is no employee cost, the application creates or updates a standard time record for the employee with this amount.
If the plan gives flex credits and there is a cost to the employee, the application subtracts the employee cost from the flex credits.
This field is not valid for COBRA participant and retiree contributions.
- Select the Add function
- If you want to base contributions on dependents or lifestyle credits, select Credits Rate Table.
-
Define the credit rate table using the following guidelines:
- Company
-
Select the company.
- Table
-
Type 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, another type of rate table cannot also use the code 2A.
- Start Date
-
Type 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, you must also add a new flex credit record.
- Amount or Percent
-
If this rate table is for a contribution record calculated as a flat amount, select amount.
If this rate table is for a contribution record calculated as a flat percent or percent of salary, select Percent.
- Currency
-
Select the currency you want to assign to this rate table. If you leave this field blank, the company currency defaults.
Note: Any rate table associated with a flex plan must have the same currency as the flex plan. - Beg Nbr
-
Type number of dependents or lifestyle credits for this range.
- Flex Credits
-
Type the number of flex credits employees receive for the number of dependents or lifestyle credits on this detail line.
The lifestyle credits are entered and maintained on HR11.
- Select the Add function