Use this screen to initialize or update the deduction amount for excess life insurance for all active employees. The deduction will be based on the employee's age, insurance amount, and pay frequency.
You can use this screen after you have established a deduction code for "Excess Life Insurance" (EXLI). This is normally run before computing payroll.
Enter, or use Lookup to select, the six-character alphanumeric code assigned for excess life. This code can be established in the Deductions screen, and will be inserted into the Employee Deduction table. Lookup will return only codes that have the deduction type of "Excess Life Insurance" (EXLI) and the computation method "ADDGRS" in the Deductions screen.
Enter the maximum amount of insurance offered by the company. This amount will be used for calculating the excess life if it is less than the amount calculated from the salary times the factor.
This is an additional amount to add to the calculated insurance amount before it is truncated to the nearest $1000. For example, assume a salary of "50,900," a factor of "2," and a rounding amount of "1500." The calculation would be:
50,900 * 2 = 101,800.
101,800 + 1500 = 103,300.
Truncating to the nearest $1000 gives an excess life amount of $103,000.
Use the selections in this group box to determine how the insurance amount is derived.
Select this radio button if the insurance amount is based on the salary amount times a factor.
Select this radio button if you wish to assign an insurance amount to a salary range.
Use this group box to update the Employee Deduction table based on the employee class to which the employee is assigned in the Salary Info and History screen in Costpoint Employee. The most current record from the Salary Info and History screen is used for each employee. Use the Range Option drop-down box to select one, all, or a range of employee class codes. This will allow you to select different insurance amounts or factors for employees that fall within the same salary range but are in different employee classes.
If you select "All," the From and To fields are disabled; if you select "One," the To field is disabled; if you select "From Beginning," the From field is disabled; and if you select "To End," the To field is disabled.
If your range selection is "One," "Range," or "To End," enter, or use Lookup to select, the employee class with which you wish to start printing.
If your range selection is "Range" or "From Beginning," enter, or use Lookup to select, the employee class with which you wish to end printing.
Use this group box to update the Employee Deduction table based on the labor group to which the employee is assigned in the Salary Info and History screen in Costpoint Employee. The most current record from the Salary Info and History screen is used for each employee. Use the Range Option drop-down box to select one, all, or a range of labor groups. This will allow you to select different insurance amounts or factors for employees that fall within the same salary range but are in different labor groups.
If you select "All," the From and To fields are disabled; if you select "One," the To field is disabled; if you select "From Beginning," the From field is disabled; and if you select "To End," the To field is disabled.
If your range selection is "One," "Range," or "To End," enter, or use Lookup to select, the Labor Group with which you wish to start printing.
If your range selection is "Range" or "From Beginning," enter, or use Lookup to select, the labor group with which you wish to end printing.
You can enter up to eight salary ranges and factors in this group box. These will be used to calculate the insurance amount for each employee. If the employee's annual salary falls within the given range, it will be multiplied by the corresponding factor to get the insurance amount. If the employee's "salary times factor" amount is greater than the ceiling amount, the ceiling amount will be used in the calculation.
Enter the salary amount from which you wish to start this range. The salary ranges cannot overlap and must be filled sequentially.
Enter the salary amount with which you wish to end this range. This salary amount in the previous row must be less than the From Salary in the current row.
If you have selected the Factor radio button in the Calculation Method group box, enter the factor by which the employee's salary will be multiplied. The result will be the insurance amount on which the Excess Life Insurance calculation will be based. You must establish a factor for each salary range.
If you have selected the Insurance Amount radio button in the Calculation Method group box, enter the actual insurance amount for each salary range. Because this is a one-to-one relationship, there is no need for a rounding amount.
This non-editable field displays the printing status for this report.
Select this button on the toolbar to delete the existing row for EXLI in the Employee Deduction table and insert the new calculated amount. If the row does not exist in the Employee Deduction table, it will be inserted. This button is not available until you have printed the report.
You can select this button on the toolbar when you first enter this screen. If you do, you will receive a message asking if you really intend to set the EXLI deduction amount. If you answer OK, the report will be printed, and the process will immediately follow the printing of the report.
Deductions - DED_CD
Basic Employee Info - EMPL
Employee Deduction - EMPL_DED
Salary Info & History - EMPL_LAB_INFO
Employee Taxes - EMPL_TAX
Labor Groups - LAB_GRP
Pay Periods - PAY_PD