Benefit Plans

With this release, benefit plan setups can now use a specific date to look back and determine the wage or age for benefits calculation.

Benefit Plans that use Eligible Wages in the Benefits Calculation

These types of plans now support the options described below.

Using a Specified Date (DD-MON) for the Lookback Function

Based on the Specified Date entered, when payroll is run, the benefits calculation will look back to the date to determine the eligible wages used.

• Examples:
  • The Specified Date entered is 01-FEB.
    • The payroll dates are 1/1/2025 - 1/15/2025.
    • The benefits calculation will look back to 2/1/2024 to find the active assignment on that date for the eligible wages in the calculation.
  • The Specified Date entered is 01-FEB.
    • The payroll dates are 04/16/2025 - 04/30/2025.
    • The benefits calculation will look back to 2/01/2025 to find the active assignment on that date for the eligible wages in the calculation.

Using a Specified Date (DD-MON) in PP End Year

This option uses the year of the payroll processing date as the year of the Specified Date. We have enhanced this to use the current assignment wage if an employee was hired after the specified date.

• Example:
  • The Specified Date entered is 01-JAN.
    • The payroll processing date is 5/10/2024.
      • The Specified Date used in the calculation is 1/01/2024.
    • The employee was hired 4/15/2024, therefore they have no active assignment as of 1/1/2024.
    • The benefits calculation will use their current active assignment for the eligible wages in the calculation.

Benefit Plans that use Age Graded Rates in Benefits Calculation

These types of plans now support the options described below.

Using a Specified Date (DD-MON) for the Lookback Function

Based on the Specified Date entered, the benefits calculation will look back to the date to determine the age to use when determining rates. This will support locking in an age-graded rate for a full 12 month period.

• Examples:
  • The Specified Date entered is 01-FEB.
    • The current date is 1/10/2025.
      • The Specified Date used to determine the age is 2/1/2024.
    • The benefits calculation will look back to what the employee's age was on 2/1/2024, and that age will be used to determine their rate. Therefore, an employee's rate will not change based on age until after 02/01/2025.
  • The Specified Date entered is 01-FEB.
    • The current date is 2/15/2025.
      • The Specified Date used to determine the age is 2/01/2025.
    • The benefits calculation will look back to what the employee’s age was on 2/01/2025, and that age will be used to determine their rate.