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By: Peter Poletti

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Profile for Employee Benefit Plan Functions & Features

The profile for employee benefit plan includes information that is pertinent to an employees' benefits including (date of birth/age, smoker/non-smoker, marital status, dependants, salary, etc.) When/if any one of these details changes, it may affect the current benefits that the employee receives (e.g., life insurance amount).. Profile for Employee Benefit Plan Functions & Features are an important module of the comprehensive ERP RFP Template for Discrete Manufacturing.

The ERP RFP template with Profile for Employee Benefit Plan Functions & Features for ERP is a Microsoft Excel spreadsheet (.xlsx) featuring a total of 3761 decision criteria. The ERP RFP template allows you to quickly and easily prepare the business, functional, and technical requirements sections of the solicitation package you'll send to ERP software vendors. It ensures for:

  • complete response from each ERP software vendor
  • deep and accurate evaluation of submitted ERP proposals
  • impartial side-by-side comparison of ERP solutions evaluated
  • rational and documented selection of the best matching ERP system

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The Profile for Employee Benefit Plan Functions & Features comprise the following elements:

  • Defines benefits waiting periods

    A benefits waiting period is the amount of time an employee must serve before becoming eligible for benefits. Benefits include medical, life savings, pensions, and coverage is dependent on the status of the employee. Benefits coverage is also normally governed by a waiting period, defined by the user in terms of days or months. Periods usually start with an event date, but the event date may also be tied to month-begin or pay-period-begin. Defines benefits waiting periods, Profile for Employee Benefit Plan Functions & Features

  • Type or amount of benefit coverage per employee

    Type or amount of benefit coverage per employee, Profile for Employee Benefit Plan Functions & Features

  • User-defined rate adjustments based on service requirements and rules

    Allows users to define adjustments for rates based on parameters for length of service, such as rate per unit. User-defined rate adjustments based on service requirements and rules, Profile for Employee Benefit Plan Functions & Features

  • Vesting schedules

    Vesting schedules are timetables for stock grants and options, where equity stakes are earned over a specified time period. Rules for vesting periods are usually defined by the time an employee has spent in service with the company and uses timetables to calculate vesting. Vesting schedules, Profile for Employee Benefit Plan Functions & Features

  • Creates rules for maximum benefits to be paid and premiums to be collected

    Creates rules for maximum benefits to be paid and premiums to be collected, Profile for Employee Benefit Plan Functions & Features

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Functions and Features