||Terminating Retirement Plans for Active Employees with a Prior Job Action of Retire
||To inform agencies of PayServ changes that must occur when an employee is Retired and Rehired.
||Employees that have a Retire Job Action followed by a Rehire Job Action whose Retirement Plans page is set to Elect.
||OSC has identified several individuals that are currently Retired and Rehired in PayServ who still show as Elect in the Retirement Plans page and are receiving service credit and/or Employer contributions to which they are not entitled.
|Beginning in paychecks dated November 15, 2017.
||If an employee is Rehired after he is Retired and is receiving a pension or annuity from a retirement plan provider, the agency payroll officer must insert a row in the Retirement Plans page and terminate the current retirement plan. Plan type 7R should not be entered in this situation.
If an employee is rehired after he is retired, is NOT receiving a pension or annuity from a retirement plan provider, and did NOT take a retirement incentive and would like to continue to contribute or earn service credit with a retirement plan, the agency should follow the instructions below to correct the employee’s history.
- Verify the employee did not receive a retirement incentive.
- Verify the employee is not receiving a pension or annuity from a retirement plan provider.
a. Notify email@example.com and include proof from step 2.
- Payroll Retirement staff will review documents provided and the employee’s record to verify they can have “Correct History” completed.
- Payroll Retirement will notify the agency and the PayCalc team if the information is approved and the agency should enter a Correct History.
- Agency will enter Correct History to change the Retire row to a Termination row.
- PayCalc team will review and approve the Correct History.
- Agency will work up an Arrears spreadsheet and have it reviewed, if required, for the retirement plan.
- Agency will update the Retirement Plan in PayServ.
- Agency will enter the reviewed Arrears, if required, for the retirement plan.
- Agency will enter General Comments.
- Payroll Retirement will review the Retirement Plans panel, General Comments, and Arrears.
||Beginning November 2, 2017 OSC will Terminate the Retirement Plans page for any employee that is Retired and Rehired if the agency has not Terminated it or processed a Correct History to remove the retirement row.
||Questions about this bulletin should be directed to the Payroll Retirement mailbox.