Agencies must review the NPAY758 report and identify employees whose educational assistance benefits as identified on the report either;
1. Exceed $5,250
2. Exceed $5,250 when combined with any additional educational assistance benefits paid to the employee by the agency through the NYS Statewide Financial System (SFS) Accounts Payable Voucher Process.
The amount exceeding $5,250 is considered the ‘taxable amount’ and must be reported in PayServ through Time Entry or reported through the agency Miscellaneous File.
To report the taxable amount through Time Entry, use the Earn Code EDA and enter the following information into the Time Entry page:
|Earnings Begin Date:
||Enter the last date of the pay period
|Earnings End Date:
|| Enter the last date of the pay period
|Earnings Code Amount:
||Enter the taxable amount (amount that exceeds $5,250)
For Administration pay cycle agencies, these transactions must be entered no later than Pay Period 19 Lag and Pay Period 20 Current.
For Institution pay cycle agencies, these transactions must be entered no later than Pay Period 18 Lag and Pay Period 19 Current.