Purpose
To notify agencies that OSC will make changes to the following Earnings Codes used to withhold salary. These changes will impact the pensionability of the deferred monies.
| Earnings Code | Narrative Description |
|---|---|
| SWP | Salary Withholding Program |
| SWB | Salary Withholding Biwkly/Hrly |
| SWC | Salary Withholding Contract Pa |
| SCO | Salary Withholding Override |
| SWH | Salary Withholding Hourly |
| SWO | Salary Withholding Override (Racing and Wagering) |
Background
OSC recently determined that the salary withholding earn codes must be updated for pension reporting purposes. As a result, changes will be made to the setup of each code to prevent the deferred monies from being included as pensionable when calculating retirement contributions.
Effective Date(s)
Paychecks dated September 29, 2005 (Institution).
Paychecks dated October 5, 2005 (Administration).
Affected Employees
Employees who are in the process of completing the salary withholding requirement may see a decrease in the amount of retirement contributions depending on the retirement system and benefit plan in which the employee is enrolled.
Agency Actions
Notify affected employees.
OSC Actions
After the changes described in this bulletin are completed, OSC will review the records of those employees who had salary withheld in PaySR/PayServ prior to the above check dates to determine necessary adjustments. Agencies will be provided with additional information once the review is completed.
Questions
Questions regarding this bulletin may be directed to the Payroll Deductions mailbox.