Rate Tables
Use the Rate Tables form to calculate client-sponsored benefit plan deductions and client match amounts. Once calculated, the system can report the total benefit premium amounts in box 12 (Code DD) of Form W-2.
Note: You can use Rate Tables only in conjunction with Deduction Codes that have a Voluntary Deduction Type and an RT Calculation Method selected. See Maintaining Global Deduction Codes for more information.
To set up a rate table:
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1.
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Enter the unique Table ID. |
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2.
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Select an Existing Effective Date for this rate table, or Enter New Effective Date. |
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3.
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Enter a descriptive Table Name. |
Note: The Basis rate is either by Pay Period or by Month. Entering monthly rates is suggested unless the client company has only one pay cycle for all employees. When calculating during initialization, the rate found on the table is multiplied by 12 and then divided by 12, 24, 26, or 52, depending on the pay period (Monthly, Semi-Monthly, Bi-Weekly, or Weekly).
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4.
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Select the amount Basis for this rate. |
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a.
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Enter the Tier level for the rate, for example, Family or Single. |
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b.
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Enter the employee Deduction Amount. |
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c.
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Enter the Match Amount. |
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