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Workers Comp Rates Table

Overview

Workers Comp Rates Code

Fields on the Workers Comp Rates Table

If you are using the accumulator SP_WRKPREM, Workers Comp Premium, for your workers’ compensation deduction, how you will need to define the Base Rate has changed.  If you change a Deduction Code to use the new accumulator, you will need to modify the Base Rate on every active Workers Comp Rates Table record.

• Classification Code.  Enter the Classification Code.  Classification codes are often mandated by the state.
• Active?  An active code has the Active checkbox selected, making the code available and keeping the code in effect as a valid choice.
• Work State.  Select the Work State.  
• Description.  Enter the Description for the classification code.
• Base Rate.  Enter the Base Rate assigned to the organization by the workers' compensation provider.  

Using the accumulator SP_WRKPREM: For worker's compensation reporting, the Base Rate in the Worker's Comp Rate Table is multiplied exactly as it is recorded in the field. To indicate 10%, you would enter 10.0 in the Base Rate field.  

Using the accumulator EWORKCOMP: For worker's compensation reporting, the Base Rate in the Worker's Comp Rate Table is multiplied exactly as it is recorded in the field. To indicate 10%, you would enter 0.10 in the Base Rate field (not 10.00).  

• Experience Factor.  Enter the employer’s Experience Factor assigned to the organization by the workers’ compensation provider.  

Modification Factors

• Modification Factor.  If any additional modification items apply, enter the modification item and the associated Modification Factor.  
• Total Adjusted Rate.  A Workers Comp Rates Table record calculates the Total Adjusted Rate by multiplying the Base Rate by the Experience Factor and each Modification Factor entered in the “Additional Modification Items section (if any).  

The system automatically calculates the Total Adjusted Rate by multiplying the Base Rate by the Experience Factor and multiplying that value by each Modification Factor, if any.  

Make changes as needed, and save the record.  

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. Changing the rates after payroll processing won't produce the desired deductions for previously processed payrolls.