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How to calculate the FSA per pay period amount based on number of check dates in a calendar year?
Summary
How to calculate the FSA per pay period amount based on number of check dates in a calendar year?Content
Hi,
In the Program configuration, we use the communicated frequency as Per Pay Period amount as of now.
We are going live on 1/1/18. Most of their employees are on a weekly payroll.
For 2018, if we calculate the number of check dates in 2018, there are just 52. Also, there are 52 pay period end dates that fall in 2018. However, as part of the go-live Conversion, when we load the benefit enrollments as of 1/1/18, the rate needs to start as of 12/24/17 (this is because the 2018 deductions need to come out of first check date of 2018, which is 1/4/2018, corresponding to pay period start date of 12/24/17). With this, the FSA per pay period amount during 2018 conversion gets calculated based on 53 pay periods. This is because
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