What is factored into a loaded rate? How do I use a loaded rate in ServTraq?
A loaded rate contains other labor costs (as allowed by contract) associated with an employee, factored into an employee’s hourly rate.
A loaded rate typically includes:
Hourly wage rate
FICA (Social Security & Medicare)
SUI (State Unemployment Insurance)
Health Insurance (Medical, Dental, Disability, Life, Vision)
Note: Does not include Workers Compensation Insurance. (Workers Comp has its own line item under CSD contracts.)
There are two ways you can use ServTraq to bill a loaded rate. Please review both to see which one works best for your agency.
(Note: Only users with Agency Admin permission roles can make these changes)
If your agency tracks employee benefits in a different system, enter the hourly rate as a loaded rate under the Job Assignments tab.
1. Go to Administration>Human Resources and open the employee record by clicking on the name of the crew member. Scroll down to Job Assignments section>click the Edit Record icon and change the Pay Rate to the loaded Rate.
When billing labor hours on installed/performed measures, the rate logged above will appear.
2. Make sure the Benefit Calculator is not enabled. Go to Administration>Agency Details and verify that the box Use Benefit Calculations isn’t check marked.
If your agency uses ServTraq to track employee benefits, you have the option of having ServTraq calculate the loaded rate based on the following information entered.
1. Pay Rate: Set the pay rate to the actual hourly rate.
Go to Administration>Human Resources and open the employee record by clicking on the name of the crew member. Scroll down to Job Assignments section>click the Edit Record icon and change the Pay Rate to the loaded rate.
2. Benefits: Enter the Employee benefits.
Go to Administration>Human Resources click on the name of the crew member that you would like to add Benefit information. Scroll down to Benefits section>click the icon and input all information that applies>click on the floppy disc icon to save (repeat this step as many times as needed). Click Save and Close in the top left corner of the screen to complete changes.
3. Enable the ServTraq Benefit Calculator.
Go to Administration>Agency Details and check mark the box Use Benefit Calculations.
When billing labor hours on installed/performed measures, the rate displayed will be different. ServTraq will display the loaded rate vs the hourly rate showed in option 1.
Other factors that impact the rate calculated by ServTraq are:
Holiday Accrual Rate -
Assumes 12 paid holidays per year (96 hours)
SUI Rate -
Dollars per Hour
FICA Rate - Percentage * Pay Rate
PTO Rate must be filled in on Employee page
Also a percentage * pay rate
This is complex.
Here is an example: .0879 Rate * 86.67 Hours Per Pay Period = 7.618293 hours of PTO accrued per pay period if all hours were worked
That leads to 7.618293 * 24 pay periods total which is 182.839 hours per year divided by 8 = 22.85488 days of PTO.
However, this person only gets 21 days PTO. This works because we do not accrue PTO when PTO is taken. So, the assumption is that they will take all 21 days of PTO per year which leads to: 21*8*.0879 = 14.7672 hours to be subtracted from the 182.839 for 168.0718. That, divided by 8 is 21.00898.
Some rates may have to be changed in ServTraq. Or, they could leave at 0 and enter the pay rate + SUI + Holiday + PTO + FICA as the pay rate.