This page (revision-15) was last changed on 26-Nov-2021 10:22 by jescott

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

Only authorized users are allowed to rename pages.

Only authorized users are allowed to delete pages.

Page revision history

Version Date Modified Size Author Changes ... Change note
15 26-Nov-2021 10:22 18 KB jescott to previous
14 26-Nov-2021 10:22 18 KB jescott to previous | to last
13 26-Nov-2021 10:22 18 KB jescott to previous | to last
12 26-Nov-2021 10:22 18 KB jescott to previous | to last
11 26-Nov-2021 10:22 15 KB jmyers to previous | to last
10 26-Nov-2021 10:22 15 KB jmyers to previous | to last
9 26-Nov-2021 10:22 15 KB jmyers to previous | to last
8 26-Nov-2021 10:22 15 KB jmyers to previous | to last
7 26-Nov-2021 10:22 15 KB jmyers to previous | to last
6 26-Nov-2021 10:22 15 KB jmyers to previous | to last
5 26-Nov-2021 10:22 15 KB jmyers to previous | to last
4 26-Nov-2021 10:22 15 KB jmyers to previous | to last
3 26-Nov-2021 10:22 15 KB jmyers to previous | to last
2 26-Nov-2021 10:22 15 KB jmyers to previous | to last
1 26-Nov-2021 10:22 15 KB jmyers to last

Page References

Incoming links Outgoing links

Version management

Difference between version and

At line 135 changed one line
For Vertex users who are converting to Symmetry, there are two options to set up Benefit PC Usages.
For Vertex users who are converting to Symmetry, it is advised to switch to using the new 7901 to7979 series or the 7801+ series, instead of the original Vertex PC list above.
At line 137 changed 2 lines
;Option 1:Retain PC usages 6053 to 6657 as above to support 125 and 401K plan exemptions\\[UPCALC] will use these PC Usages to calculate 125 and 401K exemptions for tax calculation.\\ \\
;Option 2:Set up Benefit PC Usages 7901 to 7979 for 125, 401K, 403B, 457 etc.\\If the first Benefit PC Usage 7901 is set up, this means the entire set of PC Usages 7901 to 7979 will replace PC Usages 6053 to 6657\\[UPCALC] will ignore the old PC Usages 6053 to 6657 set up.
If the Benefit PC Usage 7901 or 7902 is set up, this means the entire set of PC Usages 7901 to 7979 will replace PC Usages 6053 to 6657. UPCALC will ignore the old PC Usages 6053 to 6657 set up
At line 140 changed one line
%%information It is advised that you switch to using the new Symmetry Benefit types if your company offers a variety of the plan exemptions that were originally housed together in the 401k type element (ie: 401K & 457). This is advised since Symmetry requires the [UPCALC] to pass in the CTD and YTD value for each of the benefit types supported.\\ \\If you continue to use the Vertex method and have an employee who has both a 401K and 457 for example, if the 401k element YTD reaches the annual contribution limit for 401K, the employee's Federal and State earnings will no longer be reduced by the 401k and 457 amounts as the system will think the employee has reached the 401K annual limit when in fact they haven't.%%
It is advised that you switch to using the new Symmetry Benefit Types if your company offers a variety of the plan exemptions that were originally housed together in the 401k type element (ie: 401K & 457). This is advised since Symmetry requires the UPCALC to pass in the CTD and YTD value for each of the benefit types supported. If you continue to use the Vertex method and have an employee who has both a 401K and 457 for example, if the 401k element YTD reaches the annual contribution limit for 401K, the employee’s Federal and State earnings will no longer be reduced by the 401k and 457 amounts as the system will think the employee has reached the 401K annual limit when in fact he/she hasn’t
At line 142 added 2 lines
At line 172 changed one line
The SymmetryTaxEngine will determine which of the 9 pre-defined benefit types are taxable for each level of taxation.
The SymmetryTaxEngine will determine which of the nine pre-defined benefit types are taxable for each level of taxation.
At line 175 changed one line
e.g. 401K Usage 7902 IPPC Element Name: ‘FWT 401K EXEMPT’
e.g.\\
PC Usage 7902 Pre-FWT 401K Exemption, IPPC Element Name: ‘FWT 401K EXEMPT’
At line 179 changed one line
For the benefits that do not fall under the nine pre-defined by Symmetry clients may set up ‘custom’ benefit types. These are set up similar to the 9 pre-defined types.
For the benefits that do not fall under the nine pre-defined by Symmetry clients may set up ‘custom’ benefit types. These are set up similar to the nine pre-defined types.
At line 183 changed one line
e.g. Custom Benefit Usage 7801 IPPC Element Name: ‘PFRS PERS EX’
e.g.\\
PC Usage 7801 Pre-Reg Custom Benefit 01, IPPC Element Name: ‘PFRS PERS EX’
At line 199 added 9 lines
Available User Fields to define the Pre-Tax Criteria are:
*US Pre-Tax Federal Exemption\\
*US Pre-Tax FICA Exemption\\
*US Pre-Tax Medicare Exemption\\
*US Pre-Tax State Exemption\\
*US Pre-Tax SUI Exemption\\
*US Pre-Tax SDI Exemption\\
*US Pre-Tax Local Exemption
At line 206 changed one line
The State specific element must be created with the same name as the generic element created in section 5.5. The name must be concatenated with a hyphen and the State code as the suffix.
The State specific element must be created with the same name as the generic element created in the previous section. The name must be concatenated with a hyphen and the State code as the suffix.
At line 214 changed 4 lines
e.g.
IPPE Generic Element Name: ‘PFRS PERS EX’
IPPE Specific State Element Name for New York: ‘PFRS PERS EX-NY’
IPPE Specific State Element Name for New Jersey: ‘PFRS PERS EX-NJ’
e.g.\\
IPPE Generic Element Name: ‘PFRS PERS EX’\\
IPPE Specific State Element Name for New York: ‘PFRS PERS EX-NY’\\
IPPE Specific State Element Name for New Jersey: ‘PFRS PERS EX-NJ’\\
At line 227 changed 4 lines
e.g.
IPPE Generic Element Name: ‘TX-BEN-01’
IPPE Specific State Element Name for New Jersey: ‘TX-BEN-01-NJ’
IPPE Specific State Element Name for New York: ‘TX-BEN-01-NY’
e.g.\\
IPPE Generic Element Name: ‘TX-BEN-01’\\
IPPE Specific State Element Name for New Jersey: ‘TX-BEN-01-NJ’\\
IPPE Specific State Element Name for New York: ‘TX-BEN-01-NY’\\