Benefits
The FireManager allows you to manage most types of employee benefits including pension, insurance and flexible spending plans. The benefits section of the module maintains information about the plan contract, including total cost, the distribution of payments between the employee and employer and enrollment. When payroll is processed, this information is used to automatically deduct the employee's portion of the cost and to calculate and post the employer liability.
Pension Plans
Typical 401(a) and 457 pension plans are the most common, but many other types of plans, such as retirement health savings plans are supported. Deductions can be set up in payroll to be either pre-tax or post-tax, as appropriate. Contributions can be flat amounts or a percentage of base or gross pay. Annual contribution limits can be enforced, and each employee can override plan defaults, if necessary.
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Flexible spending Plans
Often referred to as cafeteria or Section 125 plans, these plans allow the employee to pay certain expenses with pre-tax dollars. The FireManager supports the following types of expenses: health insurance premiums, health care expenses, child care expenses and plan administrative fees. Once the employee is enrolled, his or her contributions will automatically come out of payroll as pre-tax deductions.
Insurance
Virtually any type of insurance plan is supported, including health, dental, vision and disability. During enrollment, the user simply needs to select participants for each plan from the employee's family (using the dependent information in employee profile) and the correct premiums and payment distribution will automatically be calculated and passed through to payroll.
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