The Contribution Fund screen is used by multiemployer plan administrators to construct the contribution requirements for employer pension, health and welfare programs.
Screen items
Period:
Effective Date: contribution start date.
Stop Date: end date, if applicable.
Basic Information:
Description: describe the contribution specifications for the multiemployer fund portal. Enter a brief description.
Fund Type: select Pension, Healthcare, Leave, or Workers Comp.
Source Fund: optionally associate this Contribution Fund with another existing fund as its source fund.
Mask SSN displayed on invoice: check this box to hide privileged SSN information on a generated invoice.
Do not fill new invoices with prior invoice participants: check this box to prevent participants from the prior invoice from being carried forward automatically when a new invoice is created.
Timing: identify the Contribution Fund Deposit timing.
Payment Due Date Day: this is the day in the month the payment is due.
Deposit Priority (0: undefined): sets a priority level for the deposit in case of multiple Fund Deposits.
Deposit Date: select whether the deposit date is based on Date Received or Date Postmarked.
Late Grace Period: identify the grace period using months and/or days.
Late Fees: the late fee can be determined based on a Fixed Penalty Amount or as an Interest Penalty Rate. The penalty can be applied on the first occurrence or once per month.
Invoice Frequency:
Deposit Interval: select the interval from a dropdown list of various choices, e.g. weekly, bi-weekly, monthly, etc.
Period Start: identify the month and day in the year for which the contribution period starts.
Determination of Participant's Employer:
Reported Amount: select the Reported Amount basis from a dropdown list of various choices, e.g. base, bonus, hours, etc. If the basis of contributions varies, identify the Reported Amount variation.
Amount Type: identify whether this contribution information is for the primary or secondary Reported Amount variation source.
Invoice Amount Determination: select Flat Amount, Reported Amount x Fixed Ratio, or Reported Amount x Sponsor Amount.
Flat Amount: flat dollar amount to be assessed using the Invoice Frequency defined above.
Reported Amount x Fixed Ratio: select the fund source, set the ratio to 1, or enter the appropriate ratio.
Reported Amount x Sponsor Amount: identify the source of the Reported Amount and Sponsor Amount by identifying the contract.
Matching Sponsor Amount Values to Participant Reported Amount Values: use this section to define the criteria used to associate the correct Sponsor Amount with each participant's Reported Amount.
Contract: select the Sponsor Amount contract field and the participant Reported Amount used to match contract values.
Primary Additional ID: select the primary Sponsor Amount Additional ID field and the participant Reported Amount used to match its values.
Secondary Additional ID: select the secondary Sponsor Amount Additional ID field and the participant Reported Amount used to match its values.
Store determined invoice charge into Reported Amount: select the participant Reported Amount in which the calculated invoice charge should be stored.
Store determined invoice rate into Reported Amount: select the participant Reported Amount in which the rate used to determine the invoice charge should be stored.
Additional options
Manage Contribution Funds: review, modify, or record employer contributions, invoices, deposits, and fee data for the Contribution Fund.
