Costpoint Online Help

Contents of the Update Excess Life Deductions Screen

Use the fields and options to configure the Update Excess Life Deductions Screen.

Identification

Use the fields in this block to create a new parameter ID or to retrieve a previously saved parameter ID. A parameter ID represents a set of screen selection parameters. After you have saved a parameter ID and its related parameters, you can retrieve them using Query.

You can use the retrieved parameters to produce reports and run processes more efficiently and with greater consistency. The saved parameters are also useful and necessary when you want to run the process as part of a batch job. Many users save a unique set of parameters for each different way they run a report or process. When you select a previously saved parameter ID or parameter description, the associated saved screen selection parameters automatically display as selection defaults. The page setup and print options, if there are any, are also included in the saved parameter ID. You can change any of the associated selection defaults as necessary.

Field Description
Parameter ID

Enter, or click to select, a parameter ID of up to 15 alphanumeric characters. Choose characters for your parameter ID that help identify the type of selections you made on the screen, such as PERIOD or QUARTERLY.

When you save your record, all the selections made on the screen are stored with the parameter ID. Later, you can retrieve the parameter using Query.

You can use the parameter to run the process more efficiently because you can select the parameter ID with its previously defined screen selections. After the default selections display on the screen, you can override the defaults.

Description

Enter, or click to select, a parameter description of up to 30 alphanumeric characters.

Selection Ranges

Employee Class

Use these fields to update the Employee Deduction table based on the employee class to which the employee is assigned on the Manage Employee Salary Information screen. The most current record from the Manage Employee Salary Information screen is used for each employee. Use the Option drop-down list to select one, all, or a range of employee class codes. This allows you to select different insurance amounts or factors for employees that fall within the same salary range but are in different employee classes.

Field Description
Option

Use the drop-down list to select a range of employee classes for updating the Employee Deduction table. Options are:

  • All
  • One
  • Range
  • From Beginning
  • To End

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.

Start

If your range selection is One, Range, or To End, enter, or click to select, the employee class.

End

If your range selection is Range or From Beginning, enter, or click to select, the employee class.

Labor Group

Use these fields to update the Employee Deduction table based on the labor group to which the employee is assigned on the Manage Employee Salary Information screen. The most current record from the Manage Employee Salary Information screen is used for each employee. Use the Option drop-down list to select one, all, or a range of labor groups. This allows you to select different insurance amounts or factors for employees that fall within the same salary range but are in different labor groups.

Field Description
Option

Use the drop-down list to select a range of labor groups for updating the Employee Deduction table. Options are:

  • All
  • One
  • Range
  • From Beginning
  • To End

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.

Start

If your range selection is One, Range, or To End, enter, or click to select, the labor group.

End

If your range selection is Range or From Beginning, enter, or click to select, the labor group.

Insurance Calculation Instructions

Calculation Method

Use the selections in this group box to determine how the insurance amount is derived.

Field Description
Factor

Select this option if the insurance amount is based on the salary amount times a factor.

Insurance Amount

Select this option if you wish to assign an insurance amount to a salary range.

Rounding Amount

Enter the rounding amount. 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 is:

50,900 * 2 = 101,800.

101,800 + 1500 = 103,300.

Truncating to the nearest $1000 gives an excess life amount of $103,000.

Ceiling Amount

Enter the maximum amount of insurance offered by the company. This amount is used for calculating the excess life if it is less than the amount calculated from the salary times the factor.

Excess Life

Field Description
Deduction Code

Enter, or click to select, the code assigned for excess life. This code can be established on the Manage Deductions screen, and is inserted into the Employee Deduction table. displays only codes that have the deduction type of Excess Life Insurance (EXLI) and the computation method ADDGRS on the Manage Deductions screen. The deduction code description displays in the field to the right.

Based on Check Date

Select this check box if the cost of the group term life is based on the check date.

Factors/Insurance Amounts by Salary Range

You can enter up to eight salary ranges and factors in this table. These are used to calculate the insurance amount for each employee. If the employee's annual salary falls within the given range, it is 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 is used in the calculation.

Field Description
Starting Salary

Enter the salary amount from which you wish to start this range. The salary ranges cannot overlap and must be filled sequentially.

Ending Salary

Enter the salary amount with which you wish to end this range. This salary amount in the previous row must be less than the Starting Salary in the current row.

Factor/Insurance Amount

If you selected the Factor option in the Calculation Method group box, enter the factor by which the employee's salary is multiplied. The result is the insurance amount on which the Excess Life Insurance calculation is based. You must establish a factor for each salary range.

If you have selected the Insurance Amount option 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.

Set Excess Life Deductions

Click and select Set Excess Life Deductions 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 is inserted. This option is not available until you print the report.

Process/Print

You can click and select Print/Set Excess Life Deductions when you first enter this screen. If you do, you receive a message asking if you really intend to set the EXLI deduction amount. If you click OK, the report is printed, and the process immediately follows the printing of the report.