If a change to the employee’s current deduction or Goal Amount for 2015 is necessary, agencies must update the General Deduction page in accordance with the instructions below.
Note: Agencies must not begin this data entry until after December 19, 2014 for Institution agencies and December 26, 2014 for Administration agencies.
When making changes, the transactions should be entered only during the processing of the pay period when the deduction will take effect. Agencies must not insert future-dated transactions for these deduction codes.
To change the Goal Amount for employees who are eligible to make additional contributions in 2015 under the age 50 and over and/or the 15-Year Rule, the agency must insert a new effective -dated row for the applicable SRA/TDA deduction code in the employee’s General Deduction Data record. All information will roll up on the newly inserted row. The agency must override the Goal Amount to reflect the employee’s 2015 deferral limit.
To change the Deduction Amount (for employees of SUNY, Education Department, School for the Blind and School for the Deaf) or the Percent (for employees of CUNY), the agency must insert a new effective-dated row for the applicable SRA/TDA deduction in the employee’s General Deduction Data record and override the Deduction Amount/Percent to reflect the employee’s new biweekly deferral election.
To cancel the deduction, the agency must insert a new effective-dated row for the applicable SRA/TDA deduction in the employee’s General Deduction Data record and populate the Effective Date and End Date fields with the first day of the pay period.
In order to prevent employees from making excess 403(b) deferrals in 2015, agencies must not enter or change the Goal Balance Amount under any circumstances.