Employee Update As of Age or Salary
This process can only be used if Group Life Insurance is used (Group 3, Type 5 only). This feature allows the deduction amount and life insurance coverage to be placed on the employee's deduction record. This process can also be run in report only mode which will not affect the employee's deduction records. The employee's portion of the deduction will appear in the amount column and the insurance coverage will be under the limit column on the deduction section of the employee change/inquiry screen. The actual coverage amount can be used in the life insurance calculation when 'F' is entered in the extra parameter salary selection parameter on the deduction setup. The premium amount is for information only and is not used during the life insurance calculation.
This process includes the option to maintain multiple sets of stored prompts.
Name the prompt sets by defining a title up to 10 characters, with a 30-character description.
On the first prompt click the Report Defaults icon to select an existing set of prompt values. You can delete prompt sets or change the description from the Report Default icon.
Enter Deduction Code
Enter a valid 2-digit deduction code. This deduction code Must be Group 3 Type 5.
When the Life Insurance Deduction is defined to pull the actual coverage from the employee's deduction limit field, a 'F' is in the 5th position of the Extra Line on the deduction setup:
Define Minimum Coverage Amount
- Enter a minimum coverage amount. Any employee whose coverage is less than this value will have the coverage set to this amount.
When the Life Insurance Deduction is defined with a 'V' is in the 5th position of the Extra Line on the deduction setup:
Use As of Salary or Annualized Function Lines
- Enter 'A' to use the AS OF Salary value in the calculation of the coverage amount.
- Enter 'F' to calculate the coverage based on the annualized function line earnings.
Report Only or Process Employee
- Enter 'R' to produce the report only.
- Enter 'P' to update the employees with the deduction and coverage amount. NOTE: Employees who do not have the deduction or the deduction is suspended will be bypassed.
Sort by Employee Number or Employee Name
- Enter 'E' to produce the report in employee number order.
- Enter 'N' to produce the report in employee name order.
When the Human Resources Benefits Management System is active:
atrieveHR benefits Effective Date of Change
- Enter the date to be used for recording the benefit history changes. The HR department could be consulted to ensure accuracy.
atrieveHR Benefits Reason For Change
Enter a reason for the changes to be recorded on the benefit history.
The report lists the following:
- The employee's number and name
- As of date, age and salary
- Employee deduction amount
- The employee coverage amount