!!!US Group Term Life Calculation (for U.S. installations only) {optional}

This component applies the IRS taxable benefit calculation for US group term life insurance.

Choose the rule to be used as the ‘US Group Term Life Calculation’ rule.
||Rule||Description||Logic||Assoc.||Go to
|01|((Covg-TaxExmpt) × Tax \\ Ben Rate) - Current EE \\ Dedn| Multiplies the coverage value in excess of the \\ exemption amount specified in component\\[B1230|BC-B1230] by the taxable benefit rate (from the \\ Rates tab or [B1200|BC-B1200] based on the employee’s \\age as of the day specified in component \\ [B1220|BC-B1220] of the processing year) then subtracts \\the current employee deduction ([B1040|BC-B1040])|[B1040|BC-B1040]\\[B1200|BC-B1200]\\[B1220|BC-B1220]\\[B1230|BC-B1230]|[B1250|BC-B1250]
|02*|((Covg-TaxExmpt) × Tax \\Ben Rate) – Accum. EE \\Dedn|Multiplies the coverage value in excess of the \\ exemption amount specified in component\\[B1230|BC-B1230] by the taxable benefit rate (from the \\ Rates tab or [B1200|BC-B1200] based on the employee’s \\ age as of the day specified in component \\ [B1220|BC-B1220] of the processing year) then subtracts \\ the total deductions component [B1060|BC-B1060].|[B1060|BC-B1060]\\[B1200|BC-B1200]\\[B1220|BC-B1220]\\[B1230|BC-B1230]|[B1250|BC-B1250]
|03|((Covg-TaxExmpt) × Tax \\ Ben Rate) - Current EE \\Dedn\\(Allow negative value)|Multiplies the coverage value in excess of the\\exemption amount specified in component\\[B1230|BC-B1230] by the taxable benefit rate (from the\\Rates tab or [B1200|BC-B1200] based on the employee’s\\age as of the day specified in component\\[B1220|BC-B1220] of the processing year) then subtracts\\the current employee deduction ([B1040|BC-B1040]) allow-\\ing the value to go negative.\\Same as Rule 01 but allows a negative amount.|[B1040|BC-B1040]\\[B1200|BC-B1200]\\[B1220|BC-B1220]\\[B1230|BC-B1230]|[B1250|BC-B1250]
|04|((Covg-TaxExmpt) × Tax \\ Ben Rate) - Accum. EE \\Dedn \\(Allow negative value)|Multiplies the coverage value in excess of the \\exemption amount specified in component\\[B1230|BC-B1230] by the taxable benefit rate (from the\\Rates tab or [B1200|BC-B1200] based on the employee’s\\age as of the day specified in component\\[B1220|BC-B1220] of the processing year) then subtracts\\the total deductions component [B1060|BC-B1060] allowing\\the value to go negative.\\Same as Rule 02 but allows a negative amount.|[B1060|BC-B1060]\\[B1200|BC-B1200]\\[B1220|BC-B1220]\\[B1230|BC-B1230]|[B1250|BC-B1250]