Benefit-401k

Question

Hi SAP Experts,
I am new to configuration of benefit modules in sap hr,Can any one provide me some configuration documates for 401(k) benefit.
Canany one also explain me what is mean by French benefit.
Regards
Mili

Answer 1

Find the steps you need to perform. I feel rest you can explore  -
1. Define savings plan general data - Benefit plan From/to, Plan status OP, Provider, Savings plan attributes - Beneficiaries, Contingency beneficiaries and Investments relevant and Regulatory reports.
2. Define employee contribution rules for the Standard savings plan.
3. Define employee contribution rule criteria for the Standard savings plan for the ALL
employee contribution rule for validity period, Select Amount and Pre-Tax with a minimum and a maximum. Also select Post Tax. with a $100 minimum and a $1000 maximum
4. Define employer contribution rules
For the Standard 401k plan, define employer contribution rule ALL with a monthly
period using the Universal criteria ID with Length of Service (LOS) indicated
5. Define length of service groups in the basic settings for the employee groups for the
Universal criteria ID. Create two LOS groups:
<10 (Less than 10 years) with the lowest value 1 and the maximum value 9, and >10
(More than 10 years) with the lowest value 10 and the maximum value 99.
6. Define employer contribution rule criteria
Define employer contribution rule criteria for the Standard 401k plan for the ALL
employer contribution rule. Set Sequence number 1 and validity dates 01.01.1900-
31.12.9999 for both groupd.
For LOS group <10 set a 10% employee contribution with a limit of $10,000.
For LOS Group >10 set a 10% employee contribution with a limit of $15,000.
7. Define investments - Investments for savings plans are the options available to employees participating in the benefit program. Investment options are available to savings plan participants.
Define the following investments for your savings plans:
ANNU: Guaranteed annuity
BLFD: Balanced fund
COMP: Company stock
8. Define investment groups - Investment groups are used to associate several investment options with a benefit plan. A benefit plan then has an investment group consisting of several options.
SAV (Savings) and 401K (401K)
9. Assign investments to groups - Individual options are associated with investment groups:
For investment group SAV, investment ANNU and for investment group 401K,
investments BLFD and COMP.
10. Define vesting rules.
A vesting rule defines a particular schedule. Define your vesting rule as:
5YR (5 Year Vesting)
11. Define vesting schedules
Define vesting schedules for the 5YR vesting rule.
20 percent after 1 Year
40 percent after 2 Years
60 percent after 3 Years
80 percent after 4 Years
100 percent after 5 Years
12. Assign wage types
Assign the wage types to Standard 401K as follows:
Wage type BE31 for EE con
Wage type BR31 for ER contribution.
Wage type BSAL for Calculation Base and Technical Base.
Lte me know in case you are facing some issue while confugering this.
Edited by: Praveen Tiwari on Aug 1, 2011 4:32 PM