Prev
Next
Forums Lawson S3 HR/Payroll/Benefits

Defined Contribution Company Only deduction based on Years of Service

Sort:
You are not authorized to post a reply.
Author
Messages
Margie Gyurisin
Veteran Member
Posts: 538
Veteran Member
6/20/2017 7:29 PM

    Does anyone have a defined contribution plan built that calculates a percent of salary paid in the bi-weekly check based on years of service?  It is not a match. 

    Something like this:

     

    0-3 YOS: 1%

    4-5 YOS: 2%

    6-99 YOS: 5%


    I am drawing a blank on the proper coverage/contribution type combos.


    It is effective July 1, of course.


    no pressure

    Tags: DC YOS
    Mary Porter
    Veteran Member
    Posts: 337
    Veteran Member
    6/20/2017 7:51 PM
      Margie,
      I have one based upon age as of 12/31. I did it as Coverage Options/Options Amount (Flat %), and I do one upload at the beginning of the year
      to put them at the right option for the year.
      Tags: DC YOS
      LoriN
      Basic Member
      Posts: 5
      Basic Member
      6/21/2017 11:28 AM

        Coverage type - 2 coverage amounts

        Contribution type - 3 flat contributions

        Calc type 4 - Rate table - service rate table, type percent, only put values in company portion.

         

        Tags: DC YOS
        Margie Gyurisin
        Veteran Member
        Posts: 538
        Veteran Member
        6/21/2017 7:09 PM

          Thank you for your responses. 

           

          I appreciate the help.

           

          I did set it up as Lori mentions. 

           

          We will begin full testing of the solution for our various scenarios.

          Tags: DC YOS
          TressaG
          Basic Member
          Posts: 8
          Basic Member
          6/18/2018 5:40 PM

            Hi Margie,

            Any chance you would be willing to share screenshots of your final setup?  Our plan is very similar...and I'm in the beginning stages of researching how to set all of this up in S3 (my organization just implemented TM v11 and S3 v10 several months ago). This will be the first benefit plan I need to setup in S3...

             

            If you are willing to share, you can email me at tressa.gislason@rsfh.com

             

            Thanks!

            Tressa

            Tags: DC YOS
            You are not authorized to post a reply.