Do you want to perform weld design? The required stresses are also determined on the FE model in that case. Then, the Weld element is modeled as elastic-plastic shell element, where every FE element is checked for its internal forces. (Plasticity criteria is set to reflect failure acc. to AISC J2-4 and J2-5 (weld resistance check) and also J2-2 (base metal capacity check). The design can also be carried out with the partial safety factors according to the selected National Annex.
You can perform the plate design plasticall by comparing the existing plastic strain to the allowable plastic strain. By default this is set to 5% for the AISC 360 but can be specified through user-definition 5% according to EN 1993-1-5, Annex C, or again, user-defined specification.