|
|
BN08.1 - Flex Credits
Use Flex Credits (BN08.1) to define
- the basis for which employees receive flex credits in a flex
plan for one flex plan year, and
- how much of an employee's salary can be spent on a pre-tax
basis. Use BN08.1 before the beginning of each flex plan year.
**Processing Effect
The parameters you define in this form are used to calculate flex credits
for employees in BN45.1 (Employee Flex Credits) and BN145 (Flex Credits
Calculation).
**More Information
You have the following methods to give employees flex credits before
they elect benefits.
- The same amount to every eligible employee. For example, all
employees in a flex plan receive $1,000 to buy benefits.
- As a percentage of each employee's salary. For example, employees
receive flex credits equal to 10 percent of their salary. An employee who
earns $30,000 receives $3,000 to buy benefits.
- An amount for employees' age, years of service, number of
covered dependents, and lifestyle points. For age and service, you can give
credits based on an employee's annual salary or as a flat amount. For example,
50 year-old employees receive $3 for each $1,000 of their salary. A 50
year-old
employee who makes $50,000 receives $150 (50,000/1,000 = 50 x 3 = 150).
Updated Files
FLEXDOLLAR -
Referenced Files
BNCOMMENTS -
BNCOMPANY -
EMPFLEXDOL -
FLEXPLAN -
PERSGROUP -
PRSYSTEM -
RATETBLHDR -
|
