The Benefit Payment Screen is used to provide the details regarding a specific benefit being paid or to be paid to a Person, including form of payment and amount.

• Payment Period: use this section to specify when this benefit payment begins and ends.
• First Payment Date: enter the first date that benefit payments are to be made in this space. Select the box labeled Unknown if this effective date is unavailable. This check box is commonly used when working with retiree data where benefit commencement date is missing.
• Last Payment Date: specify the last date upon which benefit payments may be made. Please note that this date only applies for temporary benefits and that COLA adjustment dates and level income option change dates should not be entered here. If this is not a temporary benefit, check the box labeled None.
• Payments not yet started: check this box to mark that these benefit payments have not begun (in deferral period) and the first payment date is in the future.
• Basic Payment Information: enter basic info about this benefit payment here.
  
  
  • Plan Number: select the three-digit plan number of the plan from which this benefit is being paid. If the Plan Sponsor only has a single plan, this item is inactive and pre-filled with the plan number for that plan.
  • Benefit Type: select the type of payment from the drop down box. Choices are listed below, as well as the corresponding internal system values.
  • Unknown: 0
  • Retirement: 1
  • Disability: 2
  • Survivor: 3
  • Minimum Distribution: 4
  • 401(k) Payout: 5
  • 403(b) Payout: 6
  • Health Care Stipend: 7
  • QDRO: 8
  • Benefit Payment Set: select the applicable Benefit Payment Set for defining this payment amount - for example, benefitsRet. This field is required when benefit amounts are dynamically calculated.
  • Form of Benefit: select the type of payment from the drop down box. Choices are listed below, as well as the corresponding internal system values. Please note that a separate set of codes for Form of Benefit is used in the Valuation Extract Layout.
  • Life Annuity : 0
  • Modified Cash Refund: 1
  • Certain and Life: 2
  • Joint and Survivor: 3
  • Certain and Joint and Survivor: 4
  • Certain Only: 5
  • Lump Sum (non-Life Contingent): 6
  • Lump Sum (Life Contingent): 7
  • Lump Sum - Small Benefit Cashout: 8
  • Lump Sum - Return of Employee Contributions: 9
  • Life Insurance: 10
  • Joint and Survivor with Popup: 11
  • Level Income: 12
  • Joint and Last Survivor: 13
  • Certain and Joint and Last Survivor: 14
  • Certain Period: enter the number of years that this payment is guaranteed to be paid, regardless of life status. This field is required with the Certain and Life, Certain and Joint and Survivor, Certain and Joint and Last Survivor, or Certain Only forms of benefit.
  • Contingent Benefit Ratio: enter the fraction of benefit payable to the Contingent Annuitant if the Contingent Annuitant is alive after the Participant has died. This field is required when the Joint and Survivor, Certain and Joint and Survivor, Joint and Last Survivor, Certain and Joint and Last Survivor, or Joint and Survivor with Popup forms of benefit are selected.
    
    Be sure to enter a value between 0 and 1. For example, enter 0.5 here for a 50% Joint and Survivor benefit.
  • Beneficiary: select a Beneficiary other than the default if needed.
  • Participant returned lump sum to plan: this section is only available when any of the four possible Lump Sum options are selected in the Form of Benefit section below. Check this box if this lump sum benefit has been returned to the plan and then enter the Date of payment. Alternatively, you can check the Unknown box if the date of payment is unavailable.
  • Contributions with Interest at Payment Start: enter the amount of any contributions with interest as of the benefit payment start date. This option is not available when the Life Insurance or PIA Level Income options are selected in the Form of Benefit section below.
  • Non-level Benefit Option: this section is available when the Level Income form of benefit is selected. Enter the date the benefit decreases under this option in the Benefit Change Date field and the annual amount it decreases to in the Final Annual Benefit field.
• Benefit Amount Determination: choose one of the following:
  
  Stored Amounts: select this option if this benefit is a stored, fixed amount, as entered on the tabs below.
  
  Dynamically Calculated: select this option if this benefit amount should be redetermined each time that a snapshot is run using the Benefit Payment Set and Form of Benefit selected above. This option is useful if the benefit amount is not final or if it changes over time, as in the case of cash balance plans.
• Other Details:
  
  
  • Payment Description (optional): use this space to enter a brief description of this benefit. It is helpful when distinguishing between multiple benefit amounts for a Person.
  • Annuity Purchase Date: enter the date that the annuity has been purchased from the provider, if applicable.
  • Ignore this payment when determining status for any snapshots on or prior to: check this box if you wish to ignore this benefit when running snapshots on or before the entered date.
  • Override all calculated amounts for this Benefit Payment Set with this amount: if you check this box, the accrued benefit formula in the selected Benefit Payment Set will be overridden with the annual benefit amount stored in this section.
    
    Any additional adjustments to the accrued benefit such as early, late, and vesting will still be applied when calculations are run so you will need to make sure if checking this box that there is enough information to still determine these items.
  • Supplemental Benefit Indicator: check this box to indicate that this benefit is supplemental and is not the primary benefit.
    
    When this box is checked, this benefit will show up as a secondary benefit on the valuation extract and will only be evaluated for valuation status purposes if this is the only benefit payment for a Person.
• Admin: press this button to access the Benefit Payment Payment Administration screen and enter information regarding this benefit amount's tax withholding, method of payment, and 1099R distribution code.
• Amount History: for use with stored benefit amounts (not dynamically calculated ones). Multiple amounts can be stored for a benefit. Use the "+" and "-" buttons to add and delete amounts, respectively.
  
  On the Benefit Payment Amount Screen for each amount, enter the following benefit amount data.
  
  
  • Annual or Monthly Amount: indicate whether the benefit amounts shown on the selected tab are annual or monthly amounts.
  • Period: enter or select the Effective Date for the benefit amounts displayed on this tab.
  • Initial Amounts: enter the Gross Benefit, as well as any Non-taxable Portion.
  • Contingent Benefit Payable while the Following are Alive: enter the dollar amount of the benefit payable when the beneficiary is only alive in the space labeled Beneficiary Only, when the participant is only alive in the space labeled Participant Only, and when both are alive in the space labeled Both.