How to set up life insurance so age is calculated as of today
Description of Issue
How can I set up life insurance so the employee's age is calculated as of today's date and not a fixed date?
Context
- Munis
- Deduction and Benefit Master
Cause
Resolution
- In Deduction and Benefit Master: Payroll > Payroll Setup > Deduction and Benefit Master
- Search on the health insurance deduction
- Click Update, click on the Insurance tab
- The following fields should be left blank:Â
- Age Effective Month
- Age Effective Date
- Age Effective Yr Typ
- Click Accept
- In Payroll Control Settings:Â Payroll Setup > Payroll Control Settings
- Scroll into the category for Insurance and locate the record labeled USE CHECK DATE FOR AGE-BASED LIFE INSURANCE
- When value is set to N Munis will calculate the employee's age of the start date of the payroll
- When the value is set to Y, Munis will calculate the employee's age as of the check date of the payroll
Additional Information