logo
Date:December 4, 2006
Bulletin Number: 681
line
Subject

Instructions for Entering Supplemental Retirement Annuity (SRA) and Tax Deferred Annuity (TDA) Deductions for 2007

Purpose

To provide instructions for entering SRA and TDA deductions for 2007.

Affected Employees

Employees who currently have any of the following SRA or TDA deductions:

Deduction Code

Narrative Description

403

Supplemental Retirement Annuity (CUNY)

413

NBE Tax Deferred Annuity (CUNY)

414

NYT Tax Deferred Annuity (CUNY)

417

HRC Tax Deferred Annuity (CUNY)

419

CUNY TDA Copeland (CUNY)

404

Supplemental Retirement Annuity (SUNY)

405

TIAA Special Annuity (SUNY)

408

SUNY TDA Fidelity (SUNY)

415

UUP Tax Deferred Annuity (SUNY)

432

ED TDA Copeland (11000,11260,11270)

Effective Date(s)

Institution paychecks dated January 4, 2007.
Administration paychecks dated January 10, 2007.

OSC Actions

For employees who have an active SRA/TDA deduction and whose status is Active, Paid Leave or Leave Without Pay, OSC will insert a new effective-dated row using the beginning date of the first pay period of 2007 with the current deduction percentage or Flat Amount and a default Goal Amount of $15,500 (normal maximum YTD contribution for 2007).  The Goal Balance field will be blank.

For employees who have an SRA/TDA deduction that is not end dated and whose status is Retired, Terminated or Deceased, OSC will end date these SRA/TDA deductions.

Agency Actions

Agencies must review the Control-D report NBEN749 (SRA/TDA Default Goal Amount) which lists participating employees.  This report will be available in Control-D for Institution agencies on or about December 15, 2006 and for Administration agencies on or about December 22, 2006.

If a change to the employee’s current deduction or Goal Amount for 2007 is necessary, agencies must update the General Deduction page in accordance with the instructions below.
                                        
Note:                            
Please do not begin this data entry until after December 15, 2006 for Institution agencies and December 22, 2006 for Administration agencies.

Agency Processing Instructions to Change Existing Deductions or Report New Deductions

When making changes, the transactions should be entered during the processing of the pay period that the deduction will take effect.  Do not insert future-dated transactions for these deduction codes.

To change the Goal Amount, the agency must insert a new effective-dated row.  All information will roll up on the newly inserted row.  The agency must override the Goal Amount.

To change the Deduction Amount/Percent, the agency must insert a new effective-dated row and override the Deduction Amount/Percent.

To cancel the deduction, the agency must insert a new effective-dated row and populate the effective date and end date fields with the first day of the pay period.

Agencies should not under any circumstances enter or change the Goal Balance Amount.

Questions

Questions regarding this bulletin may be directed to the Payroll Deductions mailbox.