FSA annual amount should be recalculated based on the remaining pay period count.

Summary:

FSA annual amount should be recalculated based on the remaining pay period count.

Content (required):

FSA annual amount should be recalculated based on the remaining pay period count. If the employee enrolls on June 1, and chooses $1000 annual amount, the amount should be calculated/ divided between the remaining pay periods through the end of the year, but not based on 26 pay biweekly cycles.

I appreciate any suggestions on the formula that we can use to support this functionality. Thank you!

Jenia

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