Subject

Change in Narrative Description and Eligibility for Deduction Code 415

Purpose

To notify agencies of the modified eligibility and narrative description for Deduction Code 415.

History

The SUNY Board of Trustees passed a resolution in May 2008 authorizing 403(b) contributions to the same vendors (AIG, ING, Met Life, TIAA-CREF) currently authorized to participate in the Optional Retirement Program for Unclassified SUNY employees.  SUNY Administration has requested that employees designated Management Confidential SUNY (Bargaining Unit 13) be eligible for Deduction Code 415. SUNY Administration also has requested a change to the narrative description for Deduction Code 415 from “UUP Tax Deferred Annuity” to “SUNY Tax Deferred Annuity.”

Affected Employees

All employees who currently have Deduction Code 415 and employees in Bargaining Unit 13 (Management Confidential SUNY).

Effective Date(s)

Paychecks dated January 21, 2009 (Administration).

OSC Actions

OSC will change the narrative description for Deduction Code 415 to “SUNY Tax Deferred Annuity.” The change will be reflected on the employee’s paycheck stub or direct deposit advice statement.

Agency Actions

Questions

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