Hello - I have a few questions regarding benefits and payroll.
Our benefits are set up to end on the term date when employee is terminated. This ends the deductions on term date. When payroll is run for the pay period the employee was termed in it is not taking any benefit deductions. How are others handing this?
One possible solution I found is to specify rules for calculating adjustments for the contributions on a benefit plan. For example, if a benefit stops in the middle of a pay period, you may want to prorate the deduction amount. You can also define retroactive adjustments if one or more pay periods were missed. Is anyone using this functionality on their benefit plans? I am confused how to set up the calculation. In the instance of the termed employee, would a retroactive adjustment calculation be needed?
If someone is using adjustments, do you also use it for retro contributions due to a life event? Currently our payroll manually does one-time deductions in this instance.
Thank you advance for your assistance,
Shannon
