DetailsRates for workers' compensation premiums can be entered for every class within a worker's compensation policy. The Workers Comp Rates Table records rates and sub-rates for Workers' Compensation policies to enable reporting and optionally to enable deduction setup for workers' compensation.
The Workers Comp Rates Table has fields for Base Rate and for Experience Factor and includes an optional section to record up to eight modification factors.
Per Job Code or Labor Segment, Workers Comp Rates are selected, and the jobs or labor segments can be associated with positions. On the Job Codes Table and tables for labor segments, the Workers Comp Rates Table provides the selection list for the Workers Comp Code.
Specific rates for workers' compensation should be entered according to the workers' compensation policy or policies. Codes for workers' compensation can be defined for each class of covered worker. Define a separate Workers Comp Rate code for each group of covered workers that has a different rate, whether this is by class, state and class, or other criteria.
Associate the jobs or labor segments with the appropriate workers' compensation rate code.
To include workers' compensation premium processing with payroll, define one or more deductions for workers' compensation, and assign the deduction to employees who are covered under that workers' compensation policy.
Key Concept: Rates need to be entered on the Workers Comp Rates Table records so that rates are available for reporting and for workers' compensation deductions. Deductions for workers' compensation can be defined with an accumulator designed workers' compensation and can be assigned to particular employees. Changing the rates after payroll processing won't produce the desired deductions for previously processed payrolls.