This page (revision-14) was last changed on 26-Nov-2021 10:22 by jmyers

This page was created on 26-Nov-2021 10:22 by JEscott

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8 26-Nov-2021 10:22 6 KB RForbes to previous | to last Benefit Component ==> BENEFIT COMPONENTS
7 26-Nov-2021 10:22 6 KB RForbes to previous | to last Benefit Components ==> Benefit Component
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BENEFIT COMPONENTS
BENEFIT COMPONENTS

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At line 1 changed one line
[Benefit Components|BENEFIT COMPONENTS#Benefit Component Codes] specify all of the rules, usercalcs, [elements|PAY ELEMENTS], field values, factors, and constants associated with a benefit plan.
__Benefit Components__ specify all of the rules, usercalcs, elements, field values, factors, and
constants associated with a benefit plan. \\
At line 17 changed one line
Each of the questions shown above may become a component or several components of a benefit plan/coverage, and each component has a number of possible responses or options. In Personality, the questions/components are called Benefit Components. The possible options/responses are the Benefit Component Rules.\\
Each of the questions shown above may become a component or several components of a benefit plan/coverage, and each component has a number of possible responses or options. In [{$applicationname}], the questions/components are called Benefit Components. The possible options/responses are the Benefit Component Rules.\\
At line 25 changed one line
The benefit components allow a great deal of versatility for defining benefit plans. In cases where the existing options may not allow for every possible plan rule, the UserCalc tool has been made available. With this tool, users are given the ability to create a custom calculation to derive necessary information for the plan. Users are also given the opportunity to carry amounts calculated within benefits processing to payroll, and subsequently to employees’ pay stubs and financial ledgers. The link between benefits and payroll is established with [pay components|PAY COMPONENTS].\\
The benefit components allow a great deal of versatility for defining benefit plans. In cases where the existing options may not allow for every possible plan rule, the UserCalc tool has been made available. With this tool, users are given the ability to create a custom calculation to derive necessary information for the plan. Users are also given the opportunity to carry amounts calculated within benefits processing to payroll, and subsequently to employees’ pay stubs and financial ledgers. The link between benefits and payroll is established with pay components.\\
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**The effective date of the [IBEN] record controls the benefit. If the plan is not yet effective, there is no point in trying to take a premium – the plan will be skipped by [UPCALC].
**The effective date of the IBEN record controls the benefit. If the plan is not yet effective, there is no point in trying to take a premium – the plan will be skipped by UPCALC.
At line 55 changed one line
**The BC action for any date component (B0020 – B0270) does not need to be anything but ‘calculate’. The dates are already on the [IBEL]/[IBEN] as separate fields.
**The BC action for any date component (B0020 – B0270) does not need to be anything but ‘calculate’. The dates are already on the IBEL/IBEN as separate fields.
At line 57 changed 2 lines
**[B0070|BC-B0070], [B0130|BC-B0130], [B0140|BC-B0140] are final storage BC’s for Effective, Eligible, Premium Start dates
**[B0200|BC-B0200], [B0260|BC-B0260], [B0270|BC-B0270] are final storage BC’s for Expiration, Eligible Expiry, Premium End dates
**B0070, B0130, B0140 are final storage BC’s for Effective, Eligible, Premium Start dates
**B0200, B0260, B0270 are final storage BC’s for Expiration, Eligible Expiry, Premium End dates
At line 63 removed 29 lines
!! Benefit Component Codes
The benefit components identified below have been grouped based on their purpose under the following subheadings:
|[B0005 to B0299]|Components for Preprocess/Qualification
|[B0300 to B0399]|Components for Eligible Earnings/Amounts
|[B0400 to B0499]|Components for Coverage
|[B0500 to B0599]|Components for Coverage Step
|[B0600 to B0699]|Components for Premium
|[B0700 to B0729]|Components for Premium Tax (Canadian Installations Only)
|[B0730 to B0799]|Components for Self-Insured Admin Fees, Deposit Liabilities and Contract Amounts
|[B0800 to B0899]|Components for Employer Contributions
|[B0900 to B0929]|Components for Employer Sales Tax (Canadian Installations Only)
|[B0930 to B0999]|Components for Flexible Benefit Fund Amount
|[B1000 to B1099]|Components for Employee Deduction
|[B1100 to B1129]|Components for Employee Sales Tax (Canadian Installations Only)
|[B1130 to B1199]|Components for Self-Insured Deposit and Retro Amounts
|[B1200 to B1299]|Components for Taxable Benefit
|[B1300 to B1399]|Components for Bond Plan Amounts
|[B1400 to B1599]|Components for Remittance Adjustment Components
|[B2016 to B2076]|
Although the sheer number of options may seem daunting, not all components are required for every plan. They are provided to allow complete versatility when defining policies.
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![Notes|Edit:Internal.BENEFIT+COMPONENTS]
[{InsertPage page='Internal.BENEFIT+COMPONENTS' default='Click to create a new notes page'}]
This page (revision-14) was last changed on 26-Nov-2021 10:22 by jmyersTop