Understanding Fund Enrollment
After you set up fund information, you can enroll employees in those funds using the Employee Fund Allocation program (P07855). When you enroll an employee in a fund, you specify:
Fund ID
Fund type
Membership number
Override name
Allocation percentage
Start date
Stop date
SuperStream Registration Indicator
If you set up fund groups, the system prepopulates the Employee Fund Allocation Revisions form with the funds in which the employee is required to, or likely to enroll. To enroll an employee in a fund, you double-click the fund record so that a check mark appears next to the record. If the fund is a required type 1 fund, the system automatically checks the record and enters an allocation percentage of 100.
You can then specify any additional information about each enrollment record, such as the employee's membership number, allocation percentage, and effective dates. After you select the funds in which you want to enroll the employee and enter all necessary enrollment information, click Submit to enroll the employee. The system then performs these tasks:
Verifies that the employee is enrolling in one type 1 fund.
Verifies that the employer allocation total equals 100 and that the employee allocation total equals 0 or 100.
Displays the number of funds in which the employee is enrolling and asks the user whether they want to continue.
Determines whether future-dated enrollment records exist.
If future-dated records exist, the system warns the user to verify that there are no gaps or overlaps in enrollment dates that would cause the allocation percentage to equal something other than 100.
Determines whether enrollment records include end dates.
If an end date exists on an enrollment record, the system warns the user to verify that no gaps in enrollment dates exist.
Determines whether overlapping dates exist for the same fund.
The system produces an error if this condition exists.
Determines if the Member Registration details must be included in the SAFF data file from the SuperStream Registration Indicator column in the Employee Fund Allocation table (F07855).
Note: If the employee has not received the Membership Number, enter the default value 111111111 in the Member Client ID field in the Employee Fund Allocation Revisions program (P07855). The CSV file prints Member Client ID as a blank field.
Though the system warns users to verify gaps and overlaps in enrollment dates, it is possible that gaps or overlaps might exist. Gaps and overlaps can cause the employee's allocation percentage to be more or less than 100. When this occurs, the system issues a warning during prepayroll notifying users that an employee has a superannuation allocation percentage that does not equal 100. You can fix the error and reprocess prepayroll, or you can continue processing the payroll cycle with the incorrect allocation. If you continue processing without correcting the error, the system prorates the amount of the superannuation deduction according to the allocation percentages for all funds in which the employee is actively enrolled during that payroll cycle.
For example, if an end date is entered incorrectly, an employee might be set up to contribute 50 percent to fund 1, 50 percent to fund 2, and 50 percent to fund 3. In this scenario, the system produces an error during prepayroll. If you continue processing the payroll cycle without fixing the allocations, the system allocates one-third of the superannuation deduction amount to each of the three funds.
Additionally, you can change an employee's enrollments only when the employee is not locked to a payroll. Therefore, to correct the error, you must first reset the payroll ID or reset the employee, which unlocks the employee.