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DRS TRANSMITTAL REPORTING AND BALANCING February 28, 2008

DRS TRANSMITTAL REPORTING AND BALANCING February 28, 2008. The Benefits Screen is used to begin the process of reporting retirement. You need to provide the correct retirement plan and the effective date. The Retirement Plan Table is PS9041

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DRS TRANSMITTAL REPORTING AND BALANCING February 28, 2008

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  1. DRS TRANSMITTAL REPORTING AND BALANCING February 28, 2008

  2. The Benefits Screen is used to begin the process of reporting retirement. You need to provide the correct retirement plan and the effective date. The Retirement Plan Table is PS9041 The PS0005 screen is also used to report Retirement plan changes and Retirees. PS0005 Benefits Screen

  3. PS0005 • Retirement Plan from Retirement Plan Table (PS9041) • Effective Date the person enrolls in Plan • Prior Retirement Plan if they have changed Plans (PERS 2 to PERS 3) • Prior Service – Yrs/Mo in Prior Plan • Retiree Type – 97, 98 or 99 depending on Plan and eligibility • PERS Option – Did they choose the plan, default, transfer 2C New member chooses PERS Plan 2 3C New member chooses PERS Plan 3 3D New member is defaulted into PERS Plan 3 3X Current PERS Plan 2 member transfers to PERS Plan 3.

  4. Calendar Codes • Calendar Codes are created on PS9019 • Codes should be created for FTF and PTF • Create a Code for FTF for the Academic Year • Create a Code for each quarter of the year for PTF • These codes are added to the jobs on PS0002

  5. JOB SCHEDULING FOR DRS REPORTING VERSION 1: PG216M – Semi Monthly Deduction Reporting : Creates DRS Transaction from Payroll CR5100 SCREEN DRS Transaction Detail CR5120A, DRS Exception Report CR5120B and DRS Edit Report CR5150 are created. PG210M – State Retirement Transmittal Report:Final DRS Reports CR5210A, CR5120B and CR5150 Summarizes and Sends Transactions to central site for reporting to DRS.

  6. JOB SCHEDULING FOR DRS REPORTING VERSION 2: PG202M – Monthly Processing – Accounting Period: Creates DRS Transaction from Payroll CR5100 SCREEN DRS Transaction Detail CR5120A, DRS Exception Report CR5120B and DRS Edit Report CR5150 are created. PG211M – DRS Contract Earning Redistribution: DRS Contract Redistribution CR5141A, DRS Contraction Redistribution Transaction Report CR5141B and DRS Contract Redistribution Exception Report CR5141C PG210M – State Retirement Transmittal Report

  7. Reviewing DRS Transaction Report • New Hires and Separations need to have dates entered. You can run datax PS7102R (New Hires) and PS7103R (Separated Employees). • The new hire report will not show employees that have been working for the college but are new to retirement. You should create a DATAX report selecting the Eligibility Date on PS0005. • Review DRS Transaction Exception Report – Payroll Deduct/ Detail Gross(CR5120B) • Review DRS Transaction Edit Report (CR5150) • Review DRS Redistribution (Version 2) • Review Hrs/Days - Use Calendar Codes for FTF and PTF. Watch the end of quarters for ½ mo.

  8. Reviewing DRS Transaction Report • Verify Status Codes for accuracy – A Active B No compensation reported for active employee G TRS 1 Member working part-time S Separated employee – must have separation date T PERS 1 and TRS 1 payment of vacation up to 240 hours (Excess of 240 hours should not be reported) • If refunds were processed, make sure that the current period is reported correctly. Refunds will reduce the employee/employer rates. • If O+ was used, check to see if the money needs to be reported on the transmittal. O+ will not automatically show on transmittal.

  9. Corrections on DRS Transaction Detail

  10. NEW EMPLOYEES MUST HAVE A BEGIN DATE WHEN THE ENROLL IN RETIREMENT. IF THEY ARE NEW TO THE COLLEGE, THE SYSTEM WILL PUT THE HIRE DATE ON THIS SCREEN. IF THEY HAVE BEEN WORKING FOR THE COLLEGE, YOU WILL MANUALLY ADD THE DATE

  11. WHEN AN EMPLOYEE SEPARATES FROM EMPLOYEMENT, YOU MUST REPORT THE SEPARATION CODE AND THE SEPARATION DATE TO THE DEPARTMENT OF RETIREMENT. IT SHOULD BE REPORTED THE PAY PERIOD THE EVENT IS HAPPENING BUT CAN BE REPORTED LATER IF NECESSARY.

  12. Balancing DRS Report • Detail Deduction PS1330 provides the totals for the EFT Total • DRS Transaction Detail List provides the totals for the Transmittal • Summarize PERS Plan 3 and TRS 3 plans • Compare the Detail Deductions to the Transaction Totals • Review differences and make corrections

  13. DRS Plan Balancing PERS 2 014 015 PS1330 TOTAL 16,188.43 23,924.12 TRANSMITTAL TOTAL 16,188.4323,892.10 DIFFERENCE .00 32.02 The difference was for an overpayment that was processed for year 2005 on 01/08 Version 1. This is a refund to college for the overpayment. Because the earnings were processed and contributions were paid in the same month, there is no credit redistribution needed.

  14. PERS AND TRS PLAN 3 PERS AND TRS 3 PLANS HAVE SEVERAL PLANS DEDUCTED BY USING THE SAME DEDUCTION CODE. THE DEDUCTION CODES ARE FOR THE INVESTMENT BOARD OR SELF DIRECTED. THE PLANS ARE CREATED BY THE OPTION AVAILABLE FOR THE INVESTMENTS. FOR EXAMPLE: CODE 046/047 CODE 048/049 G5 G1 H5 H1 H6 H2 I6 I1 I7 J1

  15. PERS 3 PS1330 TRANSMITTAL TOTAL DIFFERENCE THE TRANSMITTAL TOTAL IS THE ACCUMULATION OF ALL THE PLANS BEING DEDUCTED FOR DEDUCTION CODE 046/047 046 047 4,620.91 3,871.51 4,811.753,949.50 -190.84 -77.99 THE TRANSMITTAL INCLUDES PLAN CODES: G5,H5,H6,I6,I7,I8,J7,K1,M3 Employee Rejected on 01/08 Version 1 Reported again on 01/08 Version 2. Money and reporting are in the same month so no credit redistribution needed TOTAL THE PERS/TRS PLAN 3 DEDUCTION CODES TO BALANCE WITH THE DETAIL DEDUCTION PS1330

  16. DRS CONTRACT REDISTRIBUTION • THE PURPOSE OF THE REDISTRIBUTION IS TO REPORT THE SALARY IN THE MONTH EARNED; NOT THE MONTH PAID • CALENDAR CODES ARE ASSIGNED TO ALL CONTRACT JOBS FOR FTF AND PTF (ANYTHING THAT HAS HOURS ASSIGNED) • THE REDISTRUBUTION PROCESS IS CREATED BY JOB PG 211M. THIS JOB IS TO BE RAN EACH MONTH TO ACCUMULATE THE EARNINGS AND TIME RELATED TO CONTRACTS • WHEN THE LAST PAYMENT OF THE CONTRACT IS MADE, THE PG211M WILL REDISTRIBUTE THE SALARY TO EACH MONTH BASED ON THE CALENDAR.

  17. Contract Redistribution Example Winter Quarter 2007 Jan = 21 days Feb = 19 days Mar = 15 days TRS 1 member Hrs Prev Earnings Adjusted Earnings 14.0 1958.25 2210.87 12.8 1958.16 2021.36 10.41958.161642.34 37.2 5874.57 5874.57 5874.57 / 37.2= 157.919 157.919 X 14.0 = 2210.87 157.919 X 12.8 = 2021.36 157.919 X 10.4 = 1642.36

  18. Credit Redistribution • Credit Redistribution is required when the contributions are not paid when the earnings are reported. If a employee’s earnings and contribution are reported on 01/08 Version 2 but they are rejected, you would need to report the earnings again on 02/08 Version 1. The money waspaid in January but because of the rejection, the earnings and contributions are not being reported until February. You would need to do a credit redistribution from January (you would have a credit in Jan.) and move the money to February (you will be short on your payment)

  19. Credit Redistribution If you have a rejection on the 01/08 Version 1 and you correct it on 01/08 Version 2, you do not have to do the credit redistribution. Both the reporting and the payment are made in the same month. Suggestion: Do not allow DRS to move money if you have a credit and have a balance due until you have determined what the problems are. You will loose your history to make necessary corrections. You should know why you have the credit and balance due.

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