Workers Compensation Policy (PR17.1)

Use Workers Compensation Policy (PR17.1) to record information about the company's workers' compensation policy or policies, such as policy number, effective date, carrier, and contact person.

Note: The application derives annual period limits by using the BEGINNING date on the policy as defined in the State Annual Limit or the Limit field on US Workers Compensation Classification (PR18.1) on the . Annual period limits are not determined by using the ending policy date.

That means you need to:

Define the policy for no longer than a year, and create new policy records each year.

- or -

Change the policy dates each year

If you do not, the limits will no longer be enforced.

For example, a policy is defined with a date range of 01/01/01 through 12/31/02, and the limit is $6,000 in annual earnings. If an employee reaches the earnings limit for 2002 but not for 2001, the workers compensation deduction will continue to be taken because the annual limit is based on the closed time records for 2001 (from PRTIME).

Processing Effect

To calculate monthly limits, the application looks for any closed time records within the same calendar month as the payment date for the current payment to determine if the monthly limit has been met.