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FSA Communicated amount considering 23 pay periods instead of 24.

in Benefits 2 comments

Summary:

Hi we have Program setup as semimonthly and communicated freq as per pay period per element frequency. This year we are running into an issue where FSA plan is converting the amount thats considering 23 pay period. e.g 2400/23 instead of 2400/24. This has been working so far . I know we can use Rate periodization formula but was curious to know how does the system determine pay periods . Note we use Payroll run date/Date earned to determine period.

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Program setup


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