Convert a Schedule to an Incentive Plan

Incentive Plans are a flexible tool for creating compensation plans in nCino Incentive Compensation. This article details how to quickly convert a typical Schedule to a corresponding Incentive Plan based on each section in the Incentive Plan.

Detail

Details section of the Incentive Plan Builder (left) and Detail tab of the Compensation Schedule builder (right). Numbered items are described below.

  • Plan Name (1): Same as Schedule Name

  • Payment Timing (2): The default Compensation Schedule timing corresponds with "Quickest (Vol per Month; Pay per Payroll Period at Highest qualified tier)". For more information on other options, refer to Understand Payment Timings.

  • Plan Activation Date (3): Same as Schedule Activation Date

  • Loan Eligibility Date (4): Same as Loan Eligibility Date

  • Payable On Date (5): Same as Payable On Date

Filters

Incentive Plans have a powerful Filters system. For information about the available options, refer to Incentive Plan Filter Options.

Volume Generated By

Incentive Plans can pay based on volume from a variety of sources. To create an Incentive Plan that pays an employee who has the plan when they are in a certain assignment on the loan, select "My Loans + Assignment" in the dropdown list, and the specific assignments they are in the "Assignment" section.

Volume Generated By section (left) and the corresponding information on the Compensation Schedule Builder (right).

Include loans that meet all selected criteria

Incentive Plans have an Include section similar to Compensation Schedules, but you add items to it instead of selecting them from a dropdown list.

Include section (left) and the corresponding information on the Compensation Schedule builder (right).

Exclude loans that meet any criteria

Incentive Plan Exclude items are a bit different than in Compensation Schedules. In an Incentive Plan, you select what to exclude, and then what to exclude those loans from (Compensation, Tier Volume, Tier Units, or some combination of the three). Additionally, the Exclude section provides more options for what lien positions and FTHB lien positions to exclude.

Exclude section (left) and the Exclude tab on the Compensation Schedule builder (right).

Pay

Pay section of Incentive Plan Builder (left) and Pay tab of the Compensation Schedule builder (right). Numbers are described below.

  • Adjustment Type (1): Same as Pay Type

  • Tier Management Level (2): Schedules correspond with the "Plan" option.

  • Pay Unit (3): Same as Pay Unit

  • Pay Per (4): Same as the Pay Per on Schedule's Detail tab.

  • Tier Type (5): Same as Tier Type

  • Retroactive (6): Same as Retroactive Payout on Tiers

  • Tier Structure (7): Same as Tier Structure

Options

The Termination Rule on the Incentive Plan is the same as the Termination Rule on the Schedule.

Incentive Plan Options section (left) and Compensation Schedule Options tab (right).

 

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