Understand the Waiver Workflow

The following information applies to simple or regular waivers that you define for a variable expense. It does not apply to special waivers.

If you are using simple expense waivers: 

1. You can set up a waiver tier rule for a variable expense waiver. This is optional. For details and an example, see Manage Waiver Tier Rules. 
2. Set up a variable expense where you select a Waiver Tier ID to identify the waver tier rule, a Waiver Account, the Expense Limit/Cap, and the Waiver Expiration Date. For descriptions of these Waiver Information fields, see Create Variable Expense Panel Options.
3. Run expense accruals to process all total fund level and class level expenses. For details, see Run Expense Accruals.
4. During processing, the system allocates total fund expenses down to the share classes.
5. During processing, the system checks if the variable expense needs a waiver, and whether the waiver is associated with a waiver tier rule.
6. Then: 
   - If the variable expense has a waiver with a waiver tier rule, the system calculates the waiver using the waiver tier rule and posts it.
   - If the variable expense has a waiver with no waiver tier rule, the system processes the waiver and posts it. 
   - If the variable expense has no waiver, the process completes.