BN56.1 - Compensation History
Use Compensation History (BN56.1) to track employee compensation amounts
and participation hours for defined contribution and defined benefit plans
for each plan year. You can also record history for years before you began
using the Benefits application.
**Processing Effect
Plan years are based on the plan start date in BN15.1 (Benefit Plan).
The Benefits application tracks compensation and hours using the compensation
pay class in the Vesting Compensation form tab of BN15.1.
PR197 (Payroll Close) updates BN56.1 with current compensation andparticipation hours for employees enrolled in defined contribution and definedbenefit plans.
PR197 uses the date of a payment to determine which plan year is updated.
For 401(k) or 403(b) plans, the plan year compensation is used to determine
if the employee has met the maximum compensation limit.
If the employee benefit is a percent of compensation, PR140 (Earnings
and Deductions Calculations) stops the employee's contribution when theemployee's compensation equals the maximum compensation limit.
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File created: Thu Jun 09 11:10:22 2016
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