BN57.1 - Vesting Hours
Use Vesting Hours (BN57.1) to track employee vesting hours for defined
contribution and defined benefit plans.
**Processing Effect
The Benefits application tracks vesting hours using the plan's vesting
pay class in the Vesting Compensation form tab of Benefit Plan (BN15.1).
The application maintains vesting hours based on the Vesting From Date in
Vesting Compensation form tab in BN15.1. Payroll Close (PR197) updates
vesting hours of service beginning with the first payroll run after you begin
using the Benefit application.
BN57.1 tracks vesting hours for all employees, even if the employee
is not enrolled in a defined contribution or defined benefit plan. This lets
plans track vesting hours for employees before they enroll in a plan.
If the plan counts vesting for years before the plan start date, the
Benefits application assumes that the employee met the minimum vestingrequirements for each of those years. (You establish minimum vesting requirements when you set up the defined contribution or defined benefit plan.)
**More Information
If an employee did not meet minimum vesting requirements for a year,
you can define the actual number of vesting hours for that year. If you define
an amount of hours for a year that is less than the minimum vestingrequirement, the application does not count that year.
| Updated Files |
| |
| VESTHOURS |
- No Description Available. |
File created: Thu Jun 09 11:10:22 2016
Nogalis, inc.
Contact Us
All trademarks and registered trademarks are the property of their respective owners.
