Options to Define an Accrual Term

When you create an accrual plan, you must select one of the following term types to define an accrual term during which workers accrue leave:

• Calendar year

• Anniversary year

Calendar Year

The accrual term starts on the month, day, and year that you select. The term restarts next year on the same day. For example, if you select January 1, 2015, the accrual term starts on that day and restarts on January 1, 2016.

Anniversary Year

The accrual term starts on the hire date and restarts on each anniversary. For example, if the enrolled worker's hire date is May 1, 2015, the accrual term starts on this date and restarts on May 1, 2016.

Entering a continuous service date when enrolling in the accrual plan doesn't affect the start date. The continuous service date affects the length-of-service calculations while processing a waiting period, vesting period, or plan limits defined in an accrual band matrix. However, it doesn't affect the accrual term.