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SmartFusion Modules > Payroll > Parameters > Imputed Premium Rates

Recent Changes:  
6.250 
- Initial Implementation of parameter screen.
- A new table, ImputedPremiumRates, has been added to store Imputed Premium Rates. This table will be automatically populated with the current IRS values.

Introduction

This screen allows for the management of Imputed Premium Rates, which are used to calculate the taxable value of group-term life insurance coverage provided by an employer. The Internal Revenue Service (IRS) requires that the value of employer-provided group-term life insurance in excess of $50,000 be reported as taxable income. This screen comes pre-populated with the current IRS values for these rates (as of 12/26/2025).

Users have the ability to add, edit, or remove rate records as needed. Additionally, a "Restore Defaults" option is available to revert the rates back to the standard IRS values at any time.

Details

The Imputed Premium Rates screen is comprised of the following fields and functionalities:

Age Search

• Age: This input field allows users to search for a specific age to quickly find the corresponding premium rate.

Buttons

• Search: After entering an age in the "Age" field, clicking this button will filter the records in the table below to display the relevant rate.
• Reset: This button clears the "Age" search field and resets the table to display all the imputed premium rate records.
• Restore Defaults: Clicking this button will overwrite any custom changes made to the rates and restore the table to the official IRS imputed premium values.

Rate Table

The main part of the screen is a table that lists the imputed premium rates. Each record in this table has the following fields:

• Age From: The starting age for a specific rate bracket.
• Age To: The ending age for a specific rate bracket.
• Cost Per Month: The IRS-determined cost per $1,000 of insurance protection for one month for the corresponding age bracket.

Below is the default table prepopulated with the IRS values:

Users can interact with this table to:

• Add a new record: To create a new age bracket and associated rate.
• Edit an existing record: To modify the "Age From," "Age To," or "Cost Per Month" for an existing entry.
• Remove a record: To delete an age bracket and its corresponding rate from the table.