Tracking Contributions

Pension Administration provides three functions specifically for contributory plans:

• Consolidated Contributions gathers contributory information from payroll data.

  See Consolidating Contributions

• Employee Accounts tracks the accumulation of the contributions and any interest up to the event date.

  See Defining Employee Accounts

• Employee Pain Beneift projects the account balance to the normal retirement date if necessary, then actuarially converts the balance to a single-life annuity.

  See Creating an Employee-Paid Benefit

Use the Review Consolidation Results - Contribution History page to view the results of periodic consolidation processing and override values for particular periods.

Periodic processing maintains consolidated contributions and employee accounts. During a calculation, the system uses the existing employee account information, and brings it up to the specified event date. If you run periodic processing beyond the event date, this extra information can affect the calculation results.

Use the Plan History - Employee Account History page to view the results of periodic processing for employee accounts. You cannot modify or override data on this page but you can:

• Override the consolidation data that was the source for the employee account history.

• Enter an adjustment directly into the account on the Employee Acct Adj page. The system applies the adjustments during the next periodic processing and determines the employee-paid benefit during a calculation.