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  5. SUNY Bulletin No. SU-83

SUNY Bulletin No. SU-83

Subject
Tax Deferred Annuity (TDA) and Supplemental Retirement Annuities (SRA) Reporting for the Year 2003
Date Issued
December 2, 2002

NOTE: This Payroll Bulletin is for also for Agencies 11000, 11260 and 11270

Purpose

To explain OSC processing for certain general deduction codes.

Affected Employees

Employees who currently have any of the following deductions:

  • 404 Supplimental Annuity Program
  • 405 TIAA Special Annuity
  • 408 SUNY TDA Fidelity
  • 415 UUP Tax Deferred Annuity
  • 432 ED TDA Copeland

Effective Date

Payroll deductions for the year 2003 will begin with checks dated January 15, 2003

OSC Processing

OSC will continue these deductions in 2003 at their current rate if no end date has been previously reported, or until a future end date has been reported.

OSC will automatically zero out the goal balance if the employee had a deduction in the 2002 calendar year.

OSC will produce and mail a listing of employees who will have their deduction continued in 2003 if no agency action is taken. These listings will be produced and mailed to the agencies on December 27, 2002.

OSC will end date these deduction codes if the employee status is Terminated, Retired, or Deceased.

Agency Actions

It is the agency's responsibility to verify the listing. If there is a change to the employee's current deduction or goal amount, the agency must update the general deduction panel accordingly.

Agency Processing Instructions to Change Existing Deductions or Report New Deductions

If an employee has an existing deduction for a SRA/TDA that is not end dated, the deduction will automatically be restarted.

If there is a need to change the deduction amount/percent or the goal amount, the agency must insert a new effective dated row. All information will row up on the newly inserted row, unless the goal amount and goal balance are equal.

If the deduction amount/percent is changing, the agency must overwrite the deduction/percent with the new deduction amount/percent and save.

If the goal amount is changing, the agency must overwrite the goal amount.

Agencies must never enter or change the goal balance amount.

Agencies must enter new SRA/TDA deduction information for 2003 after December 27, 2002.

Questions

Questions about this bulletin may be directed to the Payroll Deduction mailbox.