Benefits Administration Concerns For Fiscal Year (FY) Processing For Flexible Spending Accounts (FSA).
Last updated on SEPTEMBER 07, 2017
Applies to:PeopleSoft Enterprise HRMS Benefits Administration - Version 8.8 SP1 and later
Information in this document applies to any platform.
When using Benefits Administration for enrolling Flexible Spending Account (FSA) plans on a Fiscal Year (FY) basis, the following error is encountered:
An error occurs for Open Enrollment FSA elections for Fiscal Year plans when the election contribution amount elected for the new period is less than what has been deducted for the current Calendar (CY) year.
“FSA Annual Pledge elected cannot be less than the total amount of FSA contributions that have been deducted to date”
For example :
- The Fiscal Year 2014 is set to begin from 09/01/2013 and Open Enrollment is configured for this for the new Benefits Year.
- Payroll is processed for 05/01/2013 and 06/01/2013 and Confirmed which updates the Year To Date (YTD) balances with $500 for an employee.
- Elections for Open Enrollment attempt to assign an annual pledge of $490 (This $490 Annual pledge is less than the total YTD which is $500), but when this event is validated, the process errors out and adds a Termination Row in the FSA Base benefits enrollment page.
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