OSC has established two (2) new earnings codes to process these health insurance transactions. The narrative description and the amount will appear on the employee’s paycheck or direct deposit advice statement.
IRM Imputed Income - No. State Taxes
ISM Imputed Inc - No State Taxes Adj
The transaction amounts will be subject to Federal, Social Security and Medicare taxes only.
OSC will process a weekly input file from the NYS Department of Civil Service to start, cancel or change rates for individual employees.
Agencies will not have the ability to modify these transactions.
To facilitate the conversion of imputed income retroactively back to the effective date of the Marriage Equality Act and to ensure accurate taxation and adjustment, eligible employees will see the following on their paycheck or direct deposit advice:
- The termination of the current Imputed Income Regular (IIR) Earnings Code, if any, for Domestic Partner.
- The addition of the new Imputed Income-No State Taxes (IRM) Earnings Code and amount.
- A negative adjustment Imputed Income Special (IIS) to reduce any Imputed Income associated with an employee's record after July 24, 2011 that was applied under any IIR or IIS earnings code.
- A positive adjustment of Imputed Inc- No State Taxes Adj
(ISM) to correctly associate any imputed income after July 24, 2011 with the correct taxation.