Understanding the Profit-Sharing Self-Service Transactions
eCompensation includes two self-service transactions that enable workers to access their profit-sharing data. Profit-sharing and worker's participation agreements are defined and managed using the Manage French Profit Sharing business process within PeopleSoft HCM.
Workers use these profit-sharing self-service components to view and update this information:
Agreement Personalization (HR_SS_WP_AGREEMENT)
Workers use this transaction to view details of the agreement and to update investment information.
Profit-Sharing Entitlements (HR_SS_WP_PROFIT_SH)
Workers use this transaction to view details of their profit-sharing amount and to request release of part or all of their entitlement.
Note: Worker options are also provided with the Manage Profit Sharing business process in PeopleSoft HCM.
|
Page Name |
Definition Name |
Usage |
|---|---|---|
|
HR_SS_WP_AGRT_DTL |
View details of the agreements for which they are eligible. This includes the agreement type, agreement start and end date, agreement duration, investment methods, and computed global fund. Workers can also view the agreement document from this page. |
|
|
Investment Details Page |
HR_SS_WP_AGRT_INV |
Display information about the investment method. The fields displayed vary according to the investment method. |
|
View Formula Page |
HR_SS_WP_AGRT_FML |
View the funding formula associated with the agreement. |
|
HR_SS_WP_AGRT_PRS |
Select an investment method for their funds. For profit-sharing agreements with Company Investment as the investment method, workers can also select whether to receive yearly interest payments or reinvest them in the fund. |
|
|
HR_SS_WP_PROF_DTL |
View details of their profit-sharing entitlement, including gross and net amounts, payment status, and information about the average profit-sharing amounts. |
|
|
HR_SS_WP_PROF_REQ |
Request release of profit sharing amount. This page is only available if workers are associated with profit-sharing agreements that have Company Investment selected as the investment method. |
Workers can access their profit-sharing information only if these criteria are met:
The agreement status is approved.
To access the Profit-Sharing Entitlements transaction, these conditions must also be true:
These four processes have run successfully: Extract Eligible Employees, Compute Global Fund, Distribute Global Funds, and Process Interest and Payment.
The reference period status is approved.
Administrators change the reference period status to approved after reviewing the results of the processes.
Use the Agreement Information page (HR_SS_WP_AGRT_DTL) to view details of the agreements for which they are eligible.
This includes the agreement type, agreement start and end date, agreement duration, investment methods, and computed global fund. Workers can also view the agreement document from this page.
Navigation:
This page shows the agreement information that was set up on the Define Agreement pages. Workers can't update any fields on this page.
Proposed Investments
This group box lists the investment methods defined for the agreement on the Investment page.
Field or Control |
Description |
|---|---|
Investment |
Lists the investment methods in the agreement definition. Click an investment method to view its details. The information shown varies, depending on the investment method. |
Favorite Investment |
Indicates the default investment method. This is how a worker's funds are invested, unless the worker selects another investment method. |
Computed Global Fund
This group box shows a worker's global fund only if the profit-sharing processes have been run for the reference period and the reference period status is approved.
Field or Control |
Description |
|---|---|
From Date and Thru Date (through date) |
The start and end dates of the reference period. |
Global Fund Amount |
Displays the total global fund. This amount is calculated by the Compute Global Fund process, using the formulas defined on the Define Agreement - Computation page. |
View Formula |
Click to view the formula that was used to calculate the global fund. The system displays the formula comments entered on the Formula Comments page. |
Personalize Agreement |
Click to access the Personalize Agreement Options page, where workers can select the following for each reference period of the agreement:
Workers can't change this information after the personalization date defined for the reference period. If a worker receives a payment or a transfer is completed before the personalization deadline, the system doesn't allow them to update the agreement settings after this payment or transfer date. If a personalization date is not defined, a worker can't personalize an agreement if the reference period status is approved. |
View Agreement Legal Document |
Click to display the agreement document. |
Use the Personalize Agreement Options page (HR_SS_WP_AGRT_PRS) to select an investment method for their funds.
For profit-sharing agreements with Company Investment as the investment method, workers can also select whether to receive yearly interest payments or reinvest them in the fund.
Navigation:
Click the Personalize Agreement link on the Agreement Information page.
Personalize Interest Option
This group box appears only for profit-sharing agreements with Company Investment selected as the investment method.
Field or Control |
Description |
|---|---|
Interest To Be Paid |
The system displays the default method for handling interest payments, as defined in the agreement. Workers can override the default option for each reference period. Options are: Immediate: To receive interest payments once a year. Re-Invest: To reinvest interest payments in the worker's profit-sharing fund. The interest is added to the worker's individual fund, which generates further interest the next year. |
Personalize Investment Option
This group box displays the default investment methods that were selected for the agreement on the Define Agreement - Investment page.
Field or Control |
Description |
|---|---|
Investment |
If multiple investment methods are defined for an agreement, workers can select the investment method for their fund. Workers can select only from the methods defined for the agreement on the Investment page. Workers who are leaving the organization select Transfer to new comp/fin orga. to identify the organization to which the funds are transferred. |
Use the Profit-Sharing page (HR_SS_WP_PROF_DTL) to view details of their profit-sharing entitlement, including gross and net amounts, payment status, and information about the average profit-sharing amounts.
Navigation:
This page displays a worker's fund and interest amounts, which are calculated by the Distribute Global Fund and Process Interest and Payment processes. The fields on this page are the same as those displayed using the Personal Entitlements component in PeopleSoft HCM.
See Viewing Personal Entitlements and Requesting Fund Release.
Field or Control |
Description |
|---|---|
Release Request |
Click to request the release of funds. This button appears only when there is a profit-sharing agreement associated with the worker. |
Use the Submit Fund Release Request page (HR_SS_WP_PROF_REQ) to request release of profit sharing amount.
This page is only available if workers are associated with profit-sharing agreements that have Company Investment selected as the investment method.
Navigation:
Click the Release Request button on the Profit Sharing page.
Submitted Requests
Displays details of requests previously submitted by the worker.
New Request
Workers use this group box to request fund release in the following situations:
Before the end of the unavailability period, workers can request the early release of funds in certain situations.
Workers select the event that enables them to request early release.
After the end of the unavailability period, workers can request release without conditions.
To do this, they select Available in theEvent field.
Requests are submitted to the compensation administrator for approval. Workers receive emails when the administrator approves or rejects the requests.
See Viewing Personal Entitlements and Requesting Fund Release.