2022-04-25-minutes-public-works-study-session

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CP -5850 Cayenta has made enhancements to Deduction Rule 64 United States 457K Deferred Compensation by adding two (2) new parameters. AVAILABLE IN 9.0.0 • Parameter 11: was added forthe Employer Contribution Limit (percentage) Parameter 12 was added for a Gross Selector Amount. These changes ensure age thresholds do not expire as well as ensuring the Maximum Emp'oyer Annual Contributions do not exceed 3% gross payforthe Employee. CP -5938 Payroll Deduction Rules are expanded to allow for three (3) digit Deduction Rules allowing for future growth. P-6224 Cayenta updated the following Deduction Rules to allow the system to automatically calculate the date and reduce the amount of manual intervention AVAILABLE IN 9.0.0 necessary. The rules are: • 30 Life Insurance deduction based on employees age and annual salary • 35 Life Insurance calculation (U.S.) - effective JAN 1/89 • 41 Life Insurance by fixed coverage or number of times annual gross, premium based on age points • 43 KPERS deduction with taxable benefits set according to age points • 59 Life Insurance calculation - US Group Term Life • 69 Life Insurance calculation - US Group Term Life • 83 Group Term Life Insurance Calculation with Rounding factor These rules require a year value in the Effective Date field to perform age calculations based upon the date. They may be updated with a zero (0) in the Effective Date field and the system automatically calculates the date depending on the year. CP -6309 Cayenta added a new deduction rule, Rule 88. This rule calculates the Public Service Pension Plan (PSPP) deduction based on the pensionable earnings (includes taxable benefit) using three (3) rate brackets. P-6331 Cayenta enhanced Rule 41 Life Insurance by fixed coverage or number of times annual gross, premium based on age points to allow to use in configuring an Optional Critical Illness Deduction. This deduction requires a monthly rate by age point with options for male (single, married) and female (single, married). As no annual rate is needed, the new changes to Rule 41 can be used to configure this new deduction. CP -6332 Rule 41 Life Insurance by fixed coverage or number of times annual gross, premium based on age points has been updated to include a rounding basis (round up, nearest, round down) as well as a new rounding factor (default = 1,000). ' By changing this rule, you can configure other critical illness and long-term disability deductions. P-6334 Rule 41 Life Insurance by fixed coverage or number of times annual gross, premium based on age points has been updated to include a rounding basis (round up, nearest, round down) as well as a new rounding factor (default = 1,000).