PeopleSoft Enterprise Human Resources 9.1 PeopleBook: Manage French Profit Sharing

Using Profit Sharing Employee Options

This chapter provides an overview of employee options and discusses how to:

Personalize agreements.
View personal entitlements and request fund release.

Understanding Employee Options

Employees access and update agreement information online in two ways:

Using the Review Agreement, Agreement Personalization, and Personal Entitlement components available in the Manage French Profit Sharing business process in Human Resources.
Using self-service transactions provided with PeopleSoft Enterprise eCompensation.

Note. Only employees can access their own profit-sharing information by using the employees options. Therefore, a compensation administrator using these options would only see his or her profit-sharing information.

This chapter describes these two employee options available in the Manage French Profit Sharing business process:

Agreement Personalization.

Employees use this component to view agreement information and change agreement settings. This option is only available when the agreement has an Approved status.
Personal Entitlement.

Employees use this component to view their fund information once the funds have been calculated and the reference period status is Approved. For profit-sharing agreements, employees also use the component to request release of part or all of the funds. For worker's participation agreements, funds are available at the end of the reference period and not subject to a period of unavailability.

Note. The Review Agreement component gives employees a display-only view of the agreement definition. The pages are the same as those used by the administrator for setting up the agreement.

Defining Agreements

Personalizing Agreements

This section discusses how to:

View reference period information.
Personalize investment information.
Personalize interest information.

Pages Used to Personalize Agreements

Page Name	Definition Name	Navigation	Usage
Inquire and Customize	WP_AGRT_CUST_TBL	Compensation, Profit-Sharing FRA, Manage Profit Sharing, Agreement Personalization, Inquire and Customize	View details of the agreement information that is defined on the Define Agreement - Agreement page. Employees can also view the agreement document from this page.
Global Fund	WP_PERIOD_CUST_TBL	Compensation, Profit-Sharing FRA, Manage Profit Sharing, Agreement Personalization, Global Fund	View the reference periods defined for the agreement and the status of each period. Employees can also view the global funding formula defined for each reference period.
Formula View	WP_FORMULA_VW2_SEC	Click the View Formula button on the Global Fund page.	View a description of the formula that calculates the global fund amount. This formula is specified in the Funding Formula field on the Define Agreement - Computation page. To make it easier for employees to understand, the system displays the comments specified for the formula and not the actual formula. These comments are entered on the Formula Comments page.
Investment	WP_INVEST_CUST_TBL	Compensation, Profit-Sharing FRA, Manage Profit Sharing, Agreement Personalization, Investment	View the investment methods defined for the agreement. If multiple investment methods are defined, employees can select a method for their share of the global fund.
Investment Method Details	WP_AGRT_INVES1_SEC	Click the Details button on the Investment page.	View the details of an investment method. The fields on this page vary according to the investment method selected.
Interest	WP_INTRST_CUST_TBL	Compensation, Profit-Sharing FRA, Manage Profit Sharing, Agreement Personalization, Interest	View interest information calculated by the Process Interest and Payment process and select whether to reinvest the interest or receive it. This page is available for profit-sharing agreements with the Company Investment method selected only. Interest is not calculated for other types of agreement.

Viewing Reference Period Information

Access the Global Fund page (Compensation, Profit-Sharing FRA, Manage Profit Sharing, Agreement Personalization, Global Fund).

This page lists the reference periods that were defined for the agreement using the Reference Period page. Employees can't update any fields on the page.

Global Fund

Displays the global fund amount, which is calculated by the Compute Global Fund and Distribute Global Funds process, using the formulas and distribution methods defined on the Define Agreement pages.

The system populates this field only when the reference period status is Approved.

View Formula

Click to view the formula for calculating the global fund. The system displays the comments specified for the formula on the Formula Comments page.

Personalizing Investment Information

Access the Investment page (Compensation, Profit-Sharing FRA, Manage Profit Sharing, Agreement Personalization, Investment).

Agreement Investments

This scroll area displays the investment methods that were selected for the agreement on the Investment page (Define Agreement component).

Details	Click to view details of the Investment Method. The information displayed varies according to the investment type.
Default	Indicates the default investment method. This is how an employee's funds are invested, unless the employee selects another investment method.

Customize Investment

Employees use this scroll area to override the default investment method for their fund for a selected reference period.

Investment Method

Select from any of the alternative investment methods that are defined for the agreement. Employees can't change the investment method after the first payment is made or after the personalization date defined for the reference period.

Employees who are leaving the organization, select Transfer to new comp/fin orga. to identify the organization to which the funds are transferred. The Details button appears when the employee selects this investment method.

Details

Click this button to display the investment details page. Employees who are leaving the organization use this page to enter the name and address of the new company to which funds will be transferred.

See Also

Setting Up Reference Periods

Understanding Member Information and Fund Release Requests

Personalizing Interest Information

Access the Interest page (Compensation, Profit-Sharing FRA, Manage Profit Sharing, Agreement Personalization, Interest).

Note. This page is displayed for profit-sharing agreement types with Company Investment selected as the investment method only.

Agreement Re-Investment Option

Displays the interest re-investment option selected on the Investment page (Define Agreement component). This is how the system handles interest payments, unless the employee changes the default.

Customize Re-Investment Option

Employees use this scroll area to override the re-investment option defined for the agreement for each reference period. Employees cannot change the re-investment option once interest has been paid for a given reference period, or after the personalization date defined for the reference period.

See Also

Defining Investment Methods

Viewing Personal Entitlements and Requesting Fund Release

This section lists prerequisites and discusses how to:

View profit-sharing amounts.
Submit a fund release request.
View interest information.

For worker's participation agreements, employees don't need to request fund release because funds are automatically paid as soon as they are available.

For profit-sharing agreements, employees can normally only release funds after the end of the unavailability period. However, in certain situations, employees can request early release of funds by specifying the reason for the early release. If you have enabled workflow, when employees submit fund release requests workflow triggers an email to the compensation administrator to inform the administrator that a new request is waiting for approval.

See Also

Defining Investment Methods

Prerequisites

Employees can only view their funds when the following criteria are met:

The administrator has run the profit sharing processes for the reference period.
The reference period status is Approved.

Pages Used to Request Fund Release

Page Name	Definition Name	Navigation	Usage
Profit-Sharing Inquire	WP_FUND_RLS_TBL	Compensation, Profit-Sharing FRA, Manage Profit Sharing, Personal Entitlements, Profit-Sharing Inquire	Employees use this page to view details of their funds, including gross and net amounts, payment status, and information about the average fund amounts.
Fund Request Details	WP_FUND_EVNT_SEC	Click the Request button on the Profit-Sharing Inquire page.	Request release of profit-sharing amount. This page is only available if employees are associated with profit-sharing agreements. For worker's participation agreements, funds are available at the end of the reference period.
Interest Inquire	WP_FUND_INTRST_TBL	Compensation, Profit-Sharing FRA, Manage Profit Sharing, Personal Entitlements, Interest Inquire	View details of interest payments calculated by the Process Interest and Payment process. This page is only available if employees are associated with profit-sharing agreements with Company Investment selected as the investment method. Interest is not paid for worker's participation agreements.

Viewing Profit-Sharing Amounts

Access the Profit-Sharing Inquire page (Compensation, Profit-Sharing FRA, Manage Profit Sharing, Personal Entitlements, Profit-Sharing Inquire).

This page displays the employee's profit sharing amount as calculated by the Compute Global Fund and Distribute Global Funds processes.

Request

Click to access the fund release page where the employee specifies the reason for fund release and the amount to be released.

Profit-Sharing Details

Profit-Sharing Gross Amount	Displays the employee's profit-sharing amount calculated by the Distribute Global Funds process.
Profit-Sharing Deductions	Displays the deductions due on the profit sharing amount.
Profit-Sharing Net Amount	Displays the amount payable after deductions are made.
Status	Displays the status of the employee's fund: Entitled: Indicates that the profit share amount has been calculated but the money is unavailable. This status applies to profit-sharing agreement types only. Available: Indicates that the profit share amount can be released. For worker's participation agreements, the fund is available as soon as it is calculated. For profit-sharing agreements, funds are available after the end of the unavailability period defined for the agreement. Canceled: Indicates that the compensation administrator canceled the profit-sharing amount. Sent to Payroll: Indicates that the Process Interest and Payment process has run and the profit-sharing amount has been sent to PeopleSoft Enterprise Global Payroll for France. Posted to Account: Indicates that the funds have been transferred to an external financial organization. Paid: Indicates that the payment has been processed by your payroll system. Error: Indicates that the Process Interest and Payment process could not process the payment. Request Payment: Indicates that the employee submitted a fund release request. The compensation administrator must approve this request before the payment is processed. Transfer to Account: Indicates that the funds are waiting for transfer to an external financial organization.
Availability/Payment Date	Displays the date that the employee is due to receive payment or the date on which the payment was made. The payment date is calculated by the Process Interest and Payment process.
Global Fund Amount	Displays the total fund for all eligible employees.
Average Total Gross Amount	Displays the average gross amount for all employees in the agreement.
Total Gross Amount	Displays the total of the amounts in the Profit Sharing Gross Amount column.
Total Net Amount	Displays the total of the amounts in the Profit Sharing Net Amount column.
Agreement Personalization	Click to display the Agreement Personalization page where the employee can view and personalize agreement details.

Submitting a Fund Release Request

Access the Fund Request Details page (click the Request button on the Profit-Sharing Inquire page).

Employees use this page to request fund release in the following situations:

Before the end of the unavailability period.

Employees can request early release of funds in certain situations. They use this page to specify the event that enables them to request fund release.
After the end of the unavailability period.

Normally profit-sharing funds are unavailable for a defined period that is set up in the agreement. At the end of this period, the fund status is changed to Available and employees can request release.

Requests are submitted to the compensation administrator for approval. Employees receive an email when the administrator approves or rejects the request.

Available/Entitled Amount

Displays the maximum amount that the employee can request. This does not include any interest payments to which the employee may be entitled.

Note. A total release includes any interest payments to which the employee is entitled.

Trigger Event Information

Event Date and Release Event

Select the event that enables the release of funds and enter the date in Event Date. for employees who are requesting early fund release. Employees who are leaving the organization, select Termination. If the funds are available, employees select Available.

Release Request

Total Release	Select this option if employees want to release the whole fund for the reference period. If the employee is entitled to an interest payment, this is included if the employee requests a total release.
Amount	Select this option to specify the amount the employees want released. They enter the amount and currency in the fields provided.

Viewing Interest Information

Access the Interest Inquire page (Compensation, Profit-Sharing FRA, Manage Profit Sharing, Personal Entitlements, Interest Inquire).

This page appears only if the Company Investment method was selected for the agreement.

Interest Details

From Date and Thru Date	Displays the dates defining the period for which interest has been calculated. Interest is calculated yearly during the period when funds are unavailable.
Interest Gross Amount	Displays the interest calculated by the Process Interest and Payment process.
Deductions on Interests	Displays the deductions due on the interest payment.
Interest Net Amount	Displays the interest payable after deductions are made.
Status	Displays interest status. Values are: Canceled: Cancels the interest. Compensation administrators use this status if there is an error in an employee's interest after running the Distribute Global Funds process. Entitled: Indicates that the interest has been calculated and is available. Reinvested: Indicates that interest has been added to the global funds and isn't paid immediately to the employee. Manual: Indicates that the interest amount was entered manually by the administrator. Sent to Payroll: Indicates that the Process Interest and Payment process has run and the interest payment has been sent to your payroll system. Paid: Indicates that the interest payment has been processed by your payroll system. If you have Global Payroll for France installed and you're using the Company Investment method, the Process Interest and Payment process sets the status to Paid when the interest payment is processed. Error: Indicates that the Process Interest and Payment process could not process the interest payment.
Payment/Re-Investment Date	Displays the date that the employee is due to receive the interest payment or the date on which the interest is reinvested.
Option	Displays the interest re-investment method selected. This is either the default for the agreement or the re-investment method that the employee selected on the Interest page (Agreement Personalization component). Values are: Immediate: Interest is paid at the end of the calculation period. Re-invest: Interest is added to the global fund.
Total Net Amount	Displays the total net amount for all reference periods, as shown on the Profit-Sharing Inquire page.
Total Interest Gross Amount	Displays the total of the amounts in the Interest Gross Amount column.
Total Interest Net Amount	Displays the total of the amounts in the Interest Net Amount column.