Purpose:

The purpose of this bulletin is to notify SUNY agencies of calculation changes pertaining to 403(b) deductions.

Affected Employees:

Employees enrolled or who may enroll in SUNY 403(b) before-tax and after-tax savings plans may be affected.

Background:

SUNY employees may elect a flat amount 403(b) before-tax and/or after-tax deduction to be withdrawn from their biweekly paycheck. Currently, if an employee does not have enough net earnings to fulfill the requested 403(b) deduction, no 403(b) deduction is withheld.

The SUNY Office of University-Wide Benefits requested the ability to withhold all available net pay from the employee’s paycheck should they not have enough net pay to fulfill the intended 403(b) contribution.

Effective Dates:

Effective beginning Administration paycheck dated August 3, 2022.

OSC Actions:

OSC will update PayServ to allow all available net pay to be deducted from the employee’s paycheck.

Agency Actions:

Agencies must review their Deductions Not Taken report, NPAY722, in Control-D to obtain a list of employees at their agency whose 403(b) deductions have not been taken and inform employees that they may see changes in their paycheck due to the allowance of partial 403(b) deductions. Agencies should also advise such employees to review and/or update their deduction amounts accordingly based on their individual circumstances.

Questions:

Questions regarding the SUNY 403(b) plans may be directed to SUNY University-Wide Benefits at [email protected].

Questions regarding PayServ entries may be directed to the Payroll Retirement mailbox.