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This page used to select a plan type in which you want to enroll.
Select the “Enroll in Savings Plan” hyperlink.
The “Enroll in a Savings Plan “ page appears.
The system displays the following.
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Date format |
The date format of the previous page. |
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SSN |
The social security number of the employee. |
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Employee |
Your code and name. |
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Plan Category |
The category name to which the plan belongs. |
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Plan Type |
The description of the selected plan type. |
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Plan Code |
The code of the plan selected in the previous page. |
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Plan |
The description of the plan. |
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Premium Frequency |
The frequency at which the employee and /or Employer contributes to the plan. |
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Currency |
The currency in which the employee pays the premium amount. |
Enter or select the following details for enrolling in a plan. If details are entered previously the system will display the following details. You can modify any or all the of the following fields.
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Event |
The drop-down list box will display with “ New Enrollment” if you have entered the page for the first time. If the enrollment has been made earlier, the system will display with “Select” as default value. The drop-down list box will display the following values: "Update", "Correct", "Delete", "Change in Dependent" and "Change in Beneficiary". |
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Coverage From Date |
The date from which the employee is covered under the plan. |
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Coverage To Date |
The date until which the employee is covered under the plan. |
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Coverage Level |
From the drop-down list box, select the coverage levels that is applicable to the employee while he is covered under the plan. The system will display list of all the coverage levels that are applicable to the selected plan. These levels are defined in the “Create Benefit Plan” activity. If the enrollment exists for the selected plan, it gets defaulted with the latest specified coverage level. Otherwise, it displays “Select”, by default. |
To enter coverage amount for enrollment
For the selected coverage level and the dates, the system will display the following details. If it is in amount, it will be displayed in the “In Amount” column. If it is in times of pay, the system will display the value in “In Times” column.
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Minimum |
The minimum amount to be paid for enrolling in a plan will be displayed in the “In Amount” column. If the value is in “Times of Pay”, it will be displayed in the “In Times Pay” column. |
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Maximum |
The maximum amount allowed for enrolling under a plan. |
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Incremental Steps |
The increase in the amount of contribution. |
Enter the amount to be covered under the selected plan. You can enter either in “Amount” or in “Times Pay”.
Enter the amount to be covered in the “In Amount” column.
To specify the coverage value in times of pay, enter the value in the “ In Times Pay” column.
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Coverage |
The value to be covered under the plan. |
Select the “Compute Premium” pushbutton to calculate the premium to be paid by the employee.
The system will display the amount to be paid by the employee in the “Contribution” column” of the “Self Coverage” group box.
To specify employee contribution
The system displays the following details in the “Contribution” group box. These details have been defined in the “Create Benefit Plan” activity.
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Employee (Minimum) |
The minimum contribution to be paid for enrolling in the plan. |
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Employee (Maximum) |
The maximum contribution that can be paid in the plan. |
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Employer (Minimum) |
The minimum contribution to be paid by the employer under the plan. |
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Employer (Maximum) |
The maximum contribution to be paid by the employer under the plan |
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Maximum Matching Contribution in % |
The maximum percentage of matching contribution paid by the employer with respect to the employee’s contribution. For example, employee’s min contribution is 10% and max is 30 % and the employee contributes 30% of the his salary Employer’s minimum contribution is 10% and maximum contribution is 20% Case 1: If the matching contribution is specified as 50%, it indicates that the employer will contribute 50% of 30 % i.e. 15% of the employee’s salary Case 2: If maximum matching contribution is specified as 80% it indicates that the employer will contribute 80% of 30 % i.e., 24 %. But since his maximum is restricted to 20 % the employee contributes only 20% of the employee’s salary Case3: If the matching contribution is specified as 20%, it indicates that the employer will contribute 20% of 30 % i.e. 6%. But since his minimum contribution is restricted to 10% the employee contributes 10% of the employee’s salary. |
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Maximum Dollar Amount for a Year |
The maximum amount that the employer can contribute under the plan for a year. |
Enter the contribution for enrolling in the plan.
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Employee Contribution (%) |
The percentage of salary that you agree to pay for enrolling in the plan. |
You can enter opinions, comments and other details if any, in the “Remarks” field.
You can also view these details, if they were entered previously select the book icon. The system displays a pop up dialogue box containing the content that has been entered previously.
Select the “Save New Enrollment” pushbutton to enroll in the plan.
If the details are entered previously, the system will display these details at the launch of the page. You can make necessary changes.
Select the “Save Amendments” pushbutton to save the modified details.
To delete enrollment for an employee
Select the “Delete Enrollment” pushbutton to delete enrollment from the plan.
To enter coverage amount for enrollment
To specify employee contribution
To delete enrollment for an employee