Forma currently supports two date-based account types: Birthday and Work Anniversary.
When you create a date-based account, employees will receive a defined funding amount based on their date of birth or hire date. These data points must be included in the demographics file you send to Forma.
You can also create an email notification to be sent to an employee when they receive their benefit.
Example 1: Anniversary account that resets annually
Let's say you want to give employees $100 to celebrate their work anniversary each year. Also, you want any remaining balance to expire when they get their next deposit on the following year’s anniversary.
The "Hire Date" field in the demographics file can be used as the milestone date. Additionally, a custom field can be used as the funding date.
Result: An employee's work anniversary is on March 16. On March 16, money will be added to their Anniversary account. At the end of day on March 15 of the following year, any unused balance will be forfeited and they get their next $100 on March 16.
Here’s an example of what an Anniversary benefit might look like in Forma Admin:
Example 2: Birthday account that does not reset
Let's say you want to give employees $50 to celebrate their birthday each year. But unlike the previous example, you don’t want the balance to reset, instead the employee can keep any unused balance when they get their next deposit on their next birthday.
The "Date of Birth" field in the demographics file can be used as the milestone date. Additionally, a custom field can be used as the funding date.
Result: An employee's birthday is on March 16. On March 16, $50 will be added to their birthday benefit and on March 15 the following year, they still have $10 left. Then, on March 16 they receive their $50 birthday benefit, and the total balance becomes $60.
Here’s an example of what a Birthday benefit might look like in Forma Admin:
