Daily, Weekly, or Monthly Frequency Calculation Method
The system calculates the proration factor for each evaluation period and accumulates the factor for the entire payout period.
Setting Up Prorate Periods
You set up the prorate periods on the Prorate Periods page. Select Calendar Days, Weekly, or Monthly as the proration frequency (length of the proration period).
Note:
If you select Calendar Days, do not select a prorate % ID when the field appears. If you select Weekly, or Monthly, define which day of the week or month is the as of date for eligibility calculation.
The system defines the end dates of proration periods for the payout period based on the daily, weekly, or monthly frequency parameters.
Setting Up Prorate Periods
You set up the prorate periods on the Prorate Periods page.
Select Calendar Days, Weekly, or Monthly as the proration frequency (length of the proration period).
Note:
If you select Calendar Days, do not select a prorate % ID when the field appears. If you select Weekly, or Monthly, define which day of the week or month is the as of date for eligibility calculation.
The system defines the end dates of proration periods for the payout period based on the daily, weekly, or monthly frequency parameters.
Example of Monthly Calculation
This table describes the three proration periods in the example of monthly frequency with the end of the month as the period end date:
| Description | Date |
|---|---|
|
Evaluation period begin date |
04/01/2000 |
|
Evaluation period end date |
06/30/2000 |
|
Proration period end dates |
April 30, May 31, June 30 |
The process evaluates eligibility for each of the three proration periods of the evaluation period. Workers who are eligible on the proration period end dates are eligible for the month.
The process credits qualifying members with a proration factor of 1/3 for each proration period for which they were eligible.
A member who was eligible in all three proration periods would receive a proration factor of one (3/3).