You can adjust existing options by end-dating and adding new ones.
To define compensation elements or attributes:
See Before You Begin .
Expand Budget Administration, and then select Manage other compensation elements.
From Page, select the kind of compensation element (medical insurance, for example) to define, and then click Go.
Under Element Definition, define the compensation element or attribute by specifying:
Options Based—Yes if the element can be applied in different ways to multiple individuals, such as an employee's medical insurance benefit covering their spouse and dependents.
Payment Terms Input—When the element is paid, such as monthly for health insurance or annual for bonuses.
Value Type Input—How the attribute or element is computed. For health insurance, this value is Amount because coverage is not calculated and provided by factors such as overtime or percentage of salary.
Allow Value Change Input—Whether planners and cost center managers can update the element at the employee or position level.
Maximum Value Type— Value type (amount or percentage) that the calculated compensation element cannot exceed. For example, to calculate employer paid tax such as FICA (in which the Value type Input is percentage), select Amount for Maximum Value Type to assign a monetary amount that the tax cannot exceed.
Note:
The Maximum Value in the lower Element Details area of the data form takes precedence over that specified in the upper Element Definition area. If you do not specify a maximum value in Element Details, the value in Element Definitions is used. If Maximum Value is specified in both areas, the value in Element Details is used.
Maximum Value—Value or percentage (as specified as Maximum Value Type) that cannot be exceeded and that caps the compensation element for the entire year based on each month. For example, hazard pay could be capped at $5,000.
Earnings Type Input—Applicable only for overtime.
Payment Frequency Input-–How often the attribute or element is funded. For example, monthly health care insurance might be paid during the first period, whereas annual bonuses are onetime payments.
Element start and end dates—Period during which the element applies.
Required Element Input—Whether the element must be specified and assigned to all positions, such as group life insurance.
Taxable Component—Whether the compensation element is subject to tax. In the case of medical and dental insurance, for example, this is No.
Budget Set—Budget in the HRMS source system in which to apply the element or attribute.
Follows Salary Allocation:
Yes—Use allocations for salary unless you defined allocations at the compensation or employee level. Changes that you make to compensation element or employee level details are applied first, and salary allocations are applied to missing segments or chart fields. For example, if you apply this option to benefits for a Research Scientist position, benefits are allocated using the same ratio of allocations defined for the position salary, and allocations on the benefit's Allocations tab are overridden.
No—You must select all chart fields or segments on the compensation element's Allocation tab.
To define a new compensation element, see Adding Compensation Element Options .
To remove element options, right-click, and then select Delete Option.
To specify the General Ledger account from which funds are allocated, click Allocations, and then select the chart fields or segments.