EMPLOYEE DEFERRED COMPENSATION INFO

Use this screen to assign an employee to a maximum of five deferred compensation plan codes. You must have assigned an employee to a plan code in this screen to be included in reports as a member of a deferred compensation plan. Establish deferred compensation plan codes in the Plan Setup screen in Costpoint Deferred Compensation Admin. Enter plan entrance date information and identify employees who are five percent owners of the company, are in the top 10 percent paid group, are officers of the company, and/or are members of the highly compensated group. You must identify an employee as a member of the highly compensated group in this screen for reports to properly classify the employee.

Establish this table after establishing deferred compensation plans in the Deductions screen in Costpoint Payroll and before generating any of the deferred compensation reports.

Employee

Enter, or use Lookup to select, the employee ID of the employee you want to assign to a deferred compensation plan. You must have assigned an employee to a plan code in this screen for the reports in this module to recognize that the employee belongs to a deferred compensation plan. Plan entrance date information is also necessary for each plan code entered.

When you enter the employee ID, the name of the employee displays in the unlabeled adjacent field.

5 Percent Owner

Select this checkbox to identify this employee as a five percent owner of the company. If you select this checkbox, the High Comp Group Member checkbox is automatically selected to indicate that this employee belongs to the highly compensated group.

Hint:  An employee is considered a five percent owner if, at any time during the lookback year or the current plan year, that employee owned or is considered to own more than five percent of the value of the outstanding stock of the corporation, or stock having more than five percent of the total combined voting power of all stock of the corporation. If the employer is not a corporation, a five percent owner is an employee that owns more than five percent of the capital, or more than five percent of the interest in profits of the company.

Officer

Select this checkbox to identify this employee as one of the officers in the company. If you select this checkbox, the High Comp Group Member checkbox is not automatically selected.

Hint:  An employee is considered an officer of the company to the extent that his duties and authority qualify him as such. Titles are not pertinent in determining officer rank; rather, the duties that are performed are meaningful.

Top Ten Paid Employee

Select this checkbox to identify this employee as one of the to the top-10 paid employees in the company.

Hint: An employee is considered a top-10 paid employee if the employee is one of the 10 most highly compensated employees.

High Comp Group Member

Select this checkbox to identify this employee as one of the members of the highly compensated group in the company. This checkbox is selected automatically if you select the 5 Percent Owner checkbox. You can use the Print High Comp Analysis report to determine who the highly compensated employees are within your company. However, we recommend that you select this checkbox when printing all reports in this module.

User Defined

You can enter up to 20 characters in this user-defined field. 

Specify Plan Entrance Dates

Plan

Enter, or use Lookup to select, the six-character alphanumeric deferred compensation plan code to which this employee is assigned. You can assign up to five plan codes to each employee. You must provide at least one plan code and related entrance date per employee to properly classify an employee as participating in a plan. The description for the deferred compensation plan code will display to the right of this field.

Date

Enter the entrance date on which the employee entered the related deferred compensation plan. This is a required field if you entered the Plan code (for the same row). The date format is MM/DD/YYYY.

Hint:  The Print New Eligible Employees Report will provide you with these dates.

Loans

Select this pushbutton to open a subtask where you can enter an unlimited number of loans that an employee can take from his deferred compensation plan.