The Benefits Code Additions module lets you add benefit codes.
Benefit Code
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Enter a unique 10 character/digit benefit code (duplicate codes are not allowed). Search for valid benefit codes. Each benefit code will have one current record and one or more historical records.
Description
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Enter up to 30 characters of description, to display when this code is used.
Supplier
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Enter a benefits supplier code, searching displays all benefits suppliers. Mandatory.
Policy Number
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Enter the policy number relating to this benefit. This number is generally found on the documentation supplied by your supplier. This field can be left blank if the you do not have a policy number.
Division
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Enter the division number relating to this benefit. This number is generally found on the documentation supplied by your supplier. This field can be left blank if the you do not have a division number.
Dependent Coverage
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Enter 'Y' if dependents are covered or 'N' if dependents are not covered.
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Entering a 'N' at this prompt will block entry of dependent codes on the Employee Benefits Information screen.
Employer Contribution
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Enter up to 10 lines of text describing how the employer contribution is determined. Typical entries in this field would be similar to : The employer pays 2 times the employee's amount Or The employer pays 100% of the cost of this benefit. See the employee contribution for details on premium calculation.
Employee Contribution
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Enter up to 10 lines of text describing how the employee contribution is determined. Typical entries in this field would be similar to: The employee pays 2 times the their annual salary times .0345 Or The employee pays 2 times the their annual salary times .0345, up to age 45. Age 45 onward the employee pays 3 times their annual salary times .0367.
Minimum Coverage
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Enter the minimum coverage if any. This is primarily for use with life insurance deductions. The value entered in this field is used to validate the amount entered in the coverage field in the Employee Benefit Information screen. Values must be between Ø and 1,ØØØ,ØØØ,ØØØ.
Maximum Coverage
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Enter the maximum coverage if any. This is primarily used with life insurance deductions. The value entered in this field is used to validate the amount entered in the coverage field on the Employee Benefit Information screen. Values must be between Ø and 1,ØØØ,ØØØ,ØØØ.
Determination Formula
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Enter up to 10 lines of text describing how the coverage is determined. Typical entries in this field would be similar to: The employee is covered for 3 times their annual salary times to a maximum of $200,000.00.
Additional Coverage
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Enter 'Y' if additional coverage is available, 'N' if additional coverage is not available. (Could also be optional coverage.)
Determination Formula
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Enter up to 10 lines of text describing how the coverage is determined. Typical entries in this field would be similar to: The employee may select additional coverage up to a maximum of $200,000.00 this coverage must be taken in $1000.000 increments at .03 per 1000.00.
Payout Formula
Payout Amount 0
Minimum Payout 2000
Maximum Payout 2000000
Text Description For Statements
Payout Formula
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Enter up to 10 lines of text describing how the pay out is determined.
Payout Amount
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Enter the amount if the pay out is a fixed dollar amount. If the pay out has a maximum and minimum, use fields 3 and 4. Values must be between Ø and 1,ØØØ,ØØØ,ØØØ.
Minimum Payout
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Enter the minimum amount of the pay out. (Only used if the pay out has a single range of values.) Values must be between Ø and 1,ØØØ,ØØØ,ØØØ.
Maximum Payout
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Enter the maximum amount of the pay out. (Only used if the pay out has a single range of values.) Values must be between Ø and 1,ØØØ,ØØØ,ØØØ.
Text Description For Statements
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Enter up to 10 lines of general descriptive text to be displayed on the employee's benefit statement.
Payroll
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Enter the Payroll ID. Search to display valid Payroll ID codes.
Deductions
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Enter the payroll deduction codes relating to this benefit code. Search for valid deduction codes for the payroll. All deduction codes must exist in the payroll, duplicates are not allowed.