Purpose
To inform Agencies of the new Earnings Code TFW (Prior Yr Soc Sec/Med Refund WC) which replaces the Code TF7 mentioned in Payroll Bulletin No. 416.
Affected Employees
Employees in the Company NYS who have a Workers' Compensation Board Award for a prior tax year and the Award is credited to NYS.
Background
Bulletin 416 describes the new Refund procedure for processing prior year awards of State Credit due to an Award by the Workers Compensation Board. In Bulletin 416, page 2, the code TFW is replacing TF7 as the earnings code that would appear on the Time Entry page and the employee's paycheck to report the refund amount.
Earnings Code TFW has been created to avoid confusion with the Earnings Code TF7 (used for refunds for other reasons). The code TFW (Prior Yr Soc Sec/Med Refund WC) will be used exclusively to pay the Workers' Compensation Social Security /Medicare Refunds.
Questions
Questions regarding this bulletin may be directed to the Workers' Compensation mailbox.