Benefit Accrual Types

The following benefit accrual types define how time off benefits accrue over time. These options are presented in the Time Off Benefit Entry form which allows you to define a single accrual type for a single time period. These options are also presented in the Time Off Benefit Policy form which allows you to define a sequence of accrual type over sequential time periods.

o	Fixed Accrual - The hours specified will be added to the accrued time off. This is a one-time adjustment which doesn't take into account the hours worked or the end date. Negative hours can be specified to subtract time off hours.

o	Hourly Accrual - This is a one-time adjustment where the accrued time off hours specified are multiplied by the hours worked. This option is not available on the Time Off Benefit Policy form.

o	Benefit Policy - The accrued time off will be based on the specified time off benefit policy. This option is not available on the Time Off Benefit Policy form.

o	Specified Period (Accrued Daily) - The accrued time off hours specified will be evenly divided over the entire period from the specified start and end date. You must specify an end date to use this accrual type. The number of hours accrued each day is calculated using the formula:

HOURS / DAY_COUNT

where HOURS is the total specified hours to accrue in a single period and DAY_COUNT is the total number of days in the specified period. The accrued hours are summarized on a monthly basis. If this is specified as the last rule in a Time Off Benefit Policy, then the period length will be limited to one day.

o	Per Year (Accrued Daily) - The accrued time off hours specified represents the hours accrued during a one year period. The benefits hours are accrued each day at the beginning of the day. The number of hours accrued each day is calculated using the formula:

HOURS / DAYS_IN_YEAR

where HOURS is the total specified hours to accrue in a single year and DAYS_IN_YEAR is the total number of days in the current one year period (normal year: 365; leap year: 366). The accrued hours are summarized on a monthly basis. Because months have varying day counts, the total hours accrued will not be the same for every month. If you want the same number of hours to accrue each month regardless of the number of days in the month, use the "Per Month (Accrued Daily) policy.

Per Year (Accrued Semimonthly) - The accrued time off hours specified represents the hours accrued during a one year period. The benefit hours are accrued twice a month at the beginning of the semimonthly period. The number of hours accrued during each semimonthly period is calculated using the following formula:

where HOURS is the total specified hours to accrue in a single year and 24 is the total number of semimonthly periods in one year (2 per month * 12 months in a year). The accrued hours are summarized on a semimonthly basis. The months will be divided according to one of the following four day ranges: 1st to 14th & 15th to 28th; 1st to 14th & 15th to 29th; 1st to 15th & 16th to 30th; 1st to 15th & 16th to 31th. Partial semimonthly periods at the beginning of a benefit period will be prorated.

o	Per Year (Accrued Monthly) - The accrued time off hours specified represents the hours accrued during a one year period. The benefit hours are accrued once a month at the beginning of the month. The number of hours accrued during each monthly period is calculated using the following formula:

where HOURS is the total specified hours to accrue in a single year and 12 is the total number of months in one year. The accrued hours are summarized on a monthly basis. Partial monthly periods at the beginning of a benefit period will be prorated.

o	Per Year (Accrued Quarterly) - The accrued time off hours specified represents the hours accrued during a one year period. The benefit hours are accrued once per quarter at the beginning of the quarter. The number of hours accrued during each quarter is calculated using the following formula:

where HOURS is the total specified hours to accrue in a single year and 4 is the total number of quarters in one year. The accrued hours are summarized on a quarterly basis. The quarters are divided into the following four day ranges: January 01 to March 31; April 01 to June 30; July 01 to September 30; October 01 to December 31. Partial quarterly periods at the beginning of a benefit period will be prorated.

Per Year (Accrued Semiannually) - The accrued time off hours specified represents the hours accrued during a one year period. The benefit hours are accrued twice a year at the beginning of the semiannual period. The number of hours accrued each semiannual period is calculated using the following formula:

where HOURS is the total specified hours to accrue in a single year and 2 is the total number of semiannual periods in one year. The accrued hours are summarized on a semiannual basis. The semiannual periods are divided into the following two day ranges: January 01 to June 30; July 01 to December 31. Partial semiannual periods at the beginning of a benefit period will be prorated.

o	Per Year (Accrued Annually) - The accrued time off hours specified represents the hours accrued during a one year period. The benefit hours are accrued once a year at the beginning of the year. The number of hours accrued each year is calculated using the following formula:

where HOURS is the total specified hours to accrue in a single year and 1 is the total number of annual periods in one year. The accrued hours are summarized on an annual basis. The year is organized along the following day range: January 01 to December 31. Partial annual periods at the beginning of a benefit period will be prorated. Partial annual periods at the end of a benefit period will not be included since the accrual period has not been completed.

o	Per Month (Accrued Daily) - The accrued time off hours specified represents the hours accrued during a one month period. The benefit hours are accrued once a day at the beginning of the day. The number of hours accrued each day is calculated using the following formula:

HOURS / DAYS_IN_MONTH

where HOURS is the total specified hours to accrue in a single month and DAYS_IN_MONTH is the total number of days in the current month period (either 28, 29, 30, or 31). The accrued hours are summarized on a monthly basis.

Per Month (Accrued Semimonthly) - The accrued time off hours specified represents the hours accrued during a one month period. The benefit hours are accrued twice a month at the beginning of the semimonthly period. The number of hours accrued each semimonthly period is calculated using the following formula:

where HOURS is the total specified hours to accrue in a single month and 2 is the total number of semimonthly periods in one month. The accrued hours are summarized on a semimonthly basis. The months will be divided according to one of the following four day ranges: 1st to 14th & 15th to 28th; 1st to 14th & 15th to 29th; 1st to 15th & 16th to 30th; 1st to 15th & 16th to 31th. Partial semimonthly periods at the beginning of a benefit period will be prorated.

o	Per Month (Accrued Monthly) - The accrued time off hours specified represents the hours accrued during a one month period. The benefit hours are accrued once a month at the beginning of the monthly period. The number of hours accrued each monthly period is calculated using the following formula:

where HOURS is the total specified hours to accrue in a single month and 1 is the total number of months in one month. The accrued hours are summarized on a monthly basis. Partial monthly periods at the beginning of a benefit period will be prorated.