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BN08.1 - Flex Credits
**Form Purpose
Use Flex Credits (BN08.1) to define
- the basis for which employees receive flex credits in a flex plan for one
flex plan year, and
- how much of an employee's salary can be spent on a pre-tax basis. Use
BN08.1 before the beginning of each flex plan year.
**Processing Effect
The parameters you define in this form are used to calculate flex credits for
employees in BN45.1 (Employee Flex Credits) and BN145 (Flex Credits
Calculation).
**More Information
You have the following methods to give employees flex credits before they
elect benefits.
- The same amount to every eligible employee. For example, all employees in a
flex plan receive $1,000 to buy benefits.
- As a percentage of each employee's salary. For example, employees receive
flex credits equal to 10 percent of their salary. An employee who earns
$30,000 receives $3,000 to buy benefits.
- An amount for employees' age, years of service, number of covered
dependents, and lifestyle points. For age and service, you can give credits
based on an employee's annual salary or as a flat amount. For example, 50
year-old employees receive $3 for each $1,000 of their salary. A 50 year-old
employee who makes $50,000 receives $150 (50,000/1,000 = 50 x 3 = 150).
Updated Files
FLEXDOLLAR - The Flex Dollars file is used to verify flex dollar records.
Referenced Files
BNCOMMENTS - The Benefit Comments file is accessed by this program.
BNCOMPANY - The Benefit Company Parameters file is accessed by this
program.
EMPFLEXDOL - The Employee Flex Dollar file is used to verify flex dollars.
FLEXPLAN - The Flex Benefit Plan file is used to verify flex plans.
PERSGROUP - The Employee Group Header file verifies the group name and
retrieves the description.
PRSYSTEM - The HR Company and Process Levels file is used to verify
company information.
RATETBLHDR - The Rate Table Header file verifies the rate table.
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