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Date: December 5, 2008
Bulletin Number: 866
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Subject

Instructions for Entering Supplemental Retirement Annuity (SRA) and Tax Deferred Annuity (TDA) Deductions for 2009

Purpose

To notify agencies of an increase in the regular SRA and TDA annual contribution limit for calendar year 2009, and to provide instructions for entering the deductions.

Background

Pursuant to IRS Regulations, Section 403(b), the regular annual contribution amount for 2009 has been increased from $15,500 to $16,500.

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)

408

SUNY TDA Fidelity (SUNY)

415

UUP Tax Deferred Annuity (SUNY)

432

ED TDA Copeland (11000,11260,11270)

Note: Information relating to Deduction Code 405 - TIAA Special Annuity (SUNY) - for 2009 will be provided in a future bulletin.

Effective Date(s)

Administration paychecks dated January 7, 2009.
Institution paychecks dated January 15, 2009.

OSC Actions

For employees who have an active SRA or 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 2009 with the current deduction percentage or Flat Amount and a default Goal Amount of $16,500 (regular maximum contribution limit for 2009).  The Goal Balance field will be blank.
For employees who have an SRA or TDA deduction that is not end dated and whose status is Retired, Terminated or Deceased, OSC will end date these SRA and 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 on or about December 19, 2008 for Administration agencies and on or about December 26, 2008 for Institution agencies.

If a change to the employee’s current deduction or Goal Amount for 2009 is necessary, agencies must update the General Deduction page in accordance with the instructions below.

Note:  Agencies must not begin this data entry until after December 19, 2008 for Administration agencies and December 26, 2008 for Institution agencies.

Agency Processing Instructions to Change ExistingDeductions or Start New Deductions

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

To change the Goal Amount, the agency must insert a new effective-dated row for the applicable SRA/TDA deduction in the employee’s General Deduction Data record.  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 for the applicable SRA/TDA deduction in the employee’s General Deduction Data record and override the Deduction Amount/Percent.

To cancel the deduction, the agency must insert a new effective-dated row for the applicable SRA/TDA deduction in the employee’s General Deduction Data record and populate the effective date and end date fields with the first day of the pay period.

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

Questions
Questions may be e-mailed to the Payroll Deductions mailbox.