The table below explains how calculations for benefits are figured.
|Adjusted Rate||1. Apply 'Merit Percentage to 'Current Rate' and round to 2 decimal places|
2. Apply 'Additional Percentage to 'Adjusted Rate' and round to 2 decimal places
3. Apply 'Promotion Percentage to 'Adjusted Rate' and round to 2 decimal places
4. Apply 'Percent Effort' to 'Adjusted Rate'
|Compounded like it is done in Workday|
|Benefit Earnings||Apply 'Adjusted Rate' to Annual Work Period||Hourly workers - Earnings are determined by the actual number of working days in the Annual Work Period
Monthly workers- Earnings are determined by the number of full months in the Annual Work Period and then summed with any partial months determined by “Days to Pay / Total Working Days in Month”
|Longevity Earning||$20 / month for each 24 months of lifetime service credit with a max of $420|
|Benefits Earnings with Longevity Earnings||Sum of 'Benefits Earnings' and 'Longevity Earnings'|
|Pre Tax Earnings||'Benefits Earnings With Longevity' minus 'Employee Benefits Contributions'|
|Retirement Amount||'Retirement Rate' * 'Benefits Earnings With Longevity'|
|Unemployment Compensation Insurance (UCI Amount)||Member specific UCI Rate * 'Benefits Earnings With Longevity'|
|Worker Compensation Insurance (WCI Amount)||Member specific WCI Rate * 'Benefits Earnings With Longevity'|
|Group Insurance Premiums (GIP Amount)||Employee GIP Rate * Annual Budgeted Salary||Vacant positions are calculated at Employee-Family Full Time Rate
An Employee must be identified as Benefits Eligible for GIP to be calculated
Employee % effort is greater than or equal to 75 - Full Time rate is used
Employee % effort is between 50 and 75 - Part Time rate is used
Employee % effort is less than 50 -GIP is not calculated
|Old Age and Survivors Insurance (OASI Amount)||Rate * Lessor of 'Pre Tax Earnings' or OASI Rate Cap||The Rate used is an estimated rate supplied by the Budget Officers.
The Federal Rate is on a calendar year and the budget is on a fiscal year that spans the calendar year.
The Estimated Rate is the current Federal Rate with an estimate for the up-coming calendar year rate added to it.
|Old Age Health Insurance (OAHI Amount)||Rate * 'Pre Tax Earnings'|
|Accrued Compensable Absences Payable (ACAP Tax Amount)||Member specific Leave Rate * 'Benefits Earnings'|