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Page References

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UBEF APA INTERFACE
UBEF APA INTERFACE

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__UBEF - Pension Interface Calculation (Example Only)__
__PSPP-PLAN__
This example shows some example UserCalcs that are required to be written and maintained by user.
This PN-PSPP plan example will have three example coverage codes: CONTRIBUTION, LTD and NO-CONTRIBUTION. The PC codes, Pay Element names, and UserCalc names used in this example are for illustration purpose only and should be modified as required.
;PN-PSPP: CONTRIBUTION Coverage
*For Pension calculation earnings will be derived from the following element:
**PEN EARN TOTAL - this element is a complex element that contains elements PEN-PD-EARNS and PEN-UNPD-EARNS
**Each of these elements has a corresponding Hours Element which is required for reporting
*Not included in calculation but needed for report are the following elements: PEN NC EARN and PEN NC HOURS
*Coverage was calculated as follows:
**Coverage = Factor * Eligible Earnings
**Factor = 1
**Therefore, the coverage is always the eligible earnings
* Two premium rates were used to define the premium
* The premium amount for coverage up to and including 1580.77 was calculated at a premium rate of 0.0617
* The premium amount for coverage beyond 1580.77 up to 4320.00 was calculated at a premium rate of 0.0881
* A UserCalc (suggested name BE-PENS-CAP) will have to be written to cap the employee's earnings at 4320.00
*When the employee has reached 35 years of service, they must be expired from the CONTRIBUTION in coverage and placed in the NO-CONTRIBUTION coverage.
* When electing them into the new plan, the effective date used will be the start date of the next pay period
* They must still be reported as being enrolled in the PSPP plan but are no longer making any contributions
*The effective date will be set to the employee's hire date
* A UserCalc will be written to automatically set the expire date to be:
** Expire Date = Hire Date + 35 Years - 1Day
* Need to be able to report total pensionable hours and earnings. The following PC's will be defined:
** PC 980 (PSPP-Con-Hours) - this is calculated via a UserCalc PR-PENCONT-HRS and is based on the amount in PC 1980 being greater than 0
** PC 1980 (PSPP-Con-Earns)
** This plan is matched 100% by the ER
** The Employer amount is stored in a Pay Component
** The Member (EE) amount is stored in a Pay Component
** PC's 1980 and 980 are used for reporting and verification purposes only
;Example 1:
;:Maximum Biweekly Cap 1 = 1580.77
;:Maximum Biweekly Cap 2 = 4320.38
;:Premium rate up to Cap 1= 0.0617
;:Premium Rate up to Cap 2 = 0.0881
;:Employee's Biweekly Earnings = 1200.00
;:Premium = (1200.00 * 0.0617) = 74.04
;:Employer pays 74.04
;:Member (EE) pays 74.04
;Example 2:
;:Maximum Biweekly Cap 1 = 1580.77
;:Maximum Biweekly Cap 2 = 4320.38
;:Premium rate up to Cap 1= 0.0617
;:Premium Rate up to Cap 2 = 0.0881
;:Employee's Biweekly Earnings = 2000.00
;:Premium 1 = (1580.77 * 0.0617) = 97.53
;:Premium 2 = (419.23 *0.0881) = 36.93
;:Total Premium = 97.53 + 36.93 = 134.46
;:Employer Pays = 134.46
;:Member (EE) Pays = 134.46
;Example 3:
;:Maximum Biweekly Cap 1 = 1580.77
;:Maximum Biweekly Cap 2 = 4320.38
;:Premium rate up to Cap 1= 0.0617
;:Premium Rate up to Cap 2 = 0.0881
;:Employee's Biweekly Earnings = 5000.00
;:Premium 1 = (1580.77 * 0.0617) = 97.53
;:Premium 2 = (2739.61 *0.0881) = 241.36
;:The amount of 2739.61 was derived from the following: Maximum Biweekly Cap 2 -Maximum Biweekly Cap 1 = 4320.38-1580.77 = 2739.61
;:Total Premium = 338.89
;:Employer Pays = 338.89
;:Member (EE) Pays = 338.89
;PN-PSPP: LTD Coverage
*Separate coverage code is used in order to calculate the employer portion at 200% (which includes the value of employer and employee contributions combined and is required for payroll processing) and ensure that it is divisible by 2.
*The report should split this amount into two to be displayed separately (as this is required for year end reporting)
* When an employee goes on LTD, the effective date to be used on the election record will be their actual date of leave
* PC's 982 and 1982 are for reporting and verification purposes only
* PC 982 (PSPP-LTD-Hours) - this is calculated via a UserCalc PR-PEN-CONTHRS and is based on the amount in PC 1982 being greater than 0
* PC 4150 contains the Employer amount
;PN-PSPP: NO-CONTRIBUTION Coverage
* When an employee goes on a specific type of leave or their 35 years of service is up, they will need to be enrolled into this coverage
* There are no premium, employer or employee amounts calculated
* The employee must still be reported on the pension report
* Hours and earnings PC's (listed above) will be created to report on
* An element called 'PEN NC EARN' is used to determine the eligible earnings amount
* PC 981 and PC 1981 are used for reporting and verification purposes only
* PC 981 is populated via a UserCalc PR-PEN-CONT-HRS and is based on the amount in PC 1981
!UBEF Sample Report
A spreadsheet will be provided which includes all data columns that were recorded in the interface file.
To generate this report, you must run UBEF a second time, using a 'Comma Delimited' Interface file format, and create a file with a file extension of '.csv'. Once the.csv file is created, you can then view this file through an Excel spreadsheet, and
delete those data columns that are of no use.
This page (revision-32) was last changed on 26-Nov-2021 10:22 by JEscottTop