Retirement Reporting Codes added to the Payroll Guide (v2.4) – IMPORTANT, PLEASE REVIEW

posted Mar 6, 2015, 5:12 PM by Vanessa Boyle
On March 4, 2015, the CRC added a new section to PR1 Payroll Guide v2.4.pdf titled Retirement Reporting Earnings Codes (see p.10). An employee’s compensation may be comprised of base pay, multiple components of pay, and additional pay. PeopleSoft automatically applies retirement earnings codes to identify wages subject to retirement reporting and retirement contribution calculations. These codes may be viewed internally, as Other Earnings on REVIEW PAYCHECK and on PAYSHEETS. These codes are inserted by the retirement processing that is run during each Pay Calc. These codes will not be seen by employees on their paystubs. These Earnings Codes are for Retirement purposes only. They are applied automatically and should not be removed at the district level.

The List of Retirement Reporting Earning Codes on p.10 contains the following columns: Earnings Code, Description, and Definition.