My company currently employs 100 FTE( based on 32 hours/week) and 30 PTE (based on 16 hours/week).On my medical plan, I have 82 FTE participating with employee only status.
1. Do my 30 PTE count as 15 FTE(for purposes of determining the 95% participation requirement of FTE)?
2. Does the 95% rule apply to the number of FTE (based on 32 hours/week) OR the number of FTE plus the PTE who qualify as FTE based on the fulltime equivalent (i.e. 30 PTE = 15 FTE as stated above)?
3. If I don’t reach 95% participation in any scenario, is this grounds for penalties of $2000 per person/per year after 30 employees?
1. Do my 30 PTE count as 15 FTE(for purposes of determining the 95% participation requirement of FTE)?
2. Does the 95% rule apply to the number of FTE (based on 32 hours/week) OR the number of FTE plus the PTE who qualify as FTE based on the fulltime equivalent (i.e. 30 PTE = 15 FTE as stated above)?
3. If I don’t reach 95% participation in any scenario, is this grounds for penalties of $2000 per person/per year after 30 employees?