What is a date-based account?

What is a date-based account?

Date-based accounts are used to reward employees on their special milestones. Currently Forma supports two milestone types: Birthday and Work Anniversary.

Unlike accounts that follow a calendar or fiscal year, date-based accounts are unique in that each employee receives funding on their individual milestone date, with the funds resetting relative to that date. Currently, date-based benefits do not support varying funding amounts from year to year for different employees.

How does Forma receive milestone dates?

Date-based accounts use information from your Demographics file to fund employees, so you'll need to include each employee’s date of birth and/or work anniversary in the file.

Do members receive notifications?

Eligible employees will receive an email notification when their date-based benefit is issued. If you'd prefer not to send these emails, they can be disabled at the account level.

For more information, see How do date-based accounts work?