Costpoint Online Help

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Contents of the Retirement Benefits Screen

Use the fields and options to configure the Retirement Benefits Screen.

Existing Retirement Plan Options/Deductions

Two types of values display in this table:

  • Pending records: If the Administrator has not selected the Immediate Update of Deferred Compensation Deductions check box in the Deferred Compensation Settings subtask of the ESS Company Settings screen in Costpoint, the system will display pending records in the table Existing Retirement Plan Options/Deductions Table. These are elections that you have made, but they are in a holding status, awaiting update in the Deductions screen in Costpoint Payroll.
    Note: The system displays a message above the table if the Existing Retirement Plan Options/Deductions table displays pending records.
  • Current records:  If the Administrator has selected the Immediate Update of Deferred Compensation Deductions check box in the Deferred Compensation Settings subtask of the ESS Company Settings screen in Costpoint (allowing immediate update to the Deductions screen in Costpoint Payroll - no pending table needed), or if pending records are possible but there are none in the system, the system will display current records in the table.  
    Note: If the Administrator has selected the Immediate Update of Deferred Compensation Deductions check box, the table will not display pending data. Only current records will be displayed in the Existing Retirement Options/Deductions Table.

    If there are no pending or current records in the system, the table will not display on the screen.

Field Description
Plan

This non-editable field displays your available retirement plan option(s).

Calculation Method

The Calculation Method (or deduction method) selection is based on the options that your company administrator has set up in the ESS Company Settings screen in Costpoint.

If there is more than one option for you to choose from, click to make your selection. If there is only one option for you to choose from, the field will be non-editable.

Current Percent/Amount

This non-editable field displays the amount (or percentage, depending on the selected Calculation Method) of your current deferred retirement election.   

New Percent/Amount

This field displays the amount (or percentage, depending on the selected Calculation Method) of your pending records.  If the system contains no pending records, your current deferred retirement election will be displayed.

New Retirement Plan Options/Deductions

The New Retirement Plan Options/Deductions table displays retirement benefit plan options that have not been previously assigned to you.  

Field Description
Plan

This non-editable field displays the available retirement benefit option(s) not previously assigned to you.

Calculation Method

The selection in this field is based on the options that your company administrator has set up in the ESS Company Settings screen in Costpoint.  If there is more than one option for you to choose from, click to make your selection.  If there is only one option for you to choose from, the field will be non-editable. When you enter the screen, this field defaults to "Select."

New Percent/Amount

Enter your election deferral percentage (or amount, depending on the selected Calculation Method). This field is non-editable until you select a Calculation Method.

Note: The system displays an error message if the New Percent/Amount total is less than what your Administrator has set up in the Deferred Compensation Setting subtask of the ESS Company Settings screen in Costpoint. The system displays an error message if the New Percent/Amount total is greater than what your Administrator has set up in the Deferred Compensation Setting subtask of the ESS Company Settings screen in Costpoint.

The system displays a message if the Existing Retirement Plan Options/Deductions table or the New Retirement Plan Options/Deductions table are not displayed on the screen.