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Setting up imputed income for life insurance on an annual basis

Summary:

We currently have our imputed income for employer paid life insurance occurring on a per-pay-period basis. We would like to change that to annually.

Content (please ensure you mask any confidential information):

Is annual imputed income possible if other frequencies are biweekly/per-pay-period? What is the setup in the benefits module and payroll module to calculate and tax once per year?

Version (include the version you are using, if applicable):

Code Snippet (add any code snippets that support your topic, if applicable):

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