Presented by: Katherine Bremser Date: October 19, 2009 Year-end Overview OSPS 2009 Year-end Mini-conference.

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  • Year-end OverviewOSPS 2009 Year-end Mini-conferencePresented by: Katherine BremserDate: October 19, 2009

  • Year-end ProcessCloseout current benefit and tax yearPrepare for new benefit and tax year

  • Goals for Year-endEnsure that the employee receives:Correct pay and benefitsCorrect W-2 Ensure that OSPSReports and pays the correct amount to vendors and taxing / assessing entitiesEnsure that the stateHas few corrected W-2s

  • Several Processes2009 Charitable Fund Drive2010 PEBB Open Enrollment2010 Governors Food Drive2009 Taxes

  • Charitable Fund DriveBefore 10/26/09, OSPS will outdate 2008 on-going deductions, effective 11/30/09E460-04-01 List of In/outdated DeductionsSet-up OSPA for 2009 fund driveOutdate all codes but Q5NNOn 11/17/09 load file for new deductions, effective 12/31/09

  • PEBB Open EnrollmentOutdates for 2009:10/01/09Dependent certificationDomestic Partners as Tax Dependents12/31/09All medical plansFSAsEmployee changes01/01/10Optional life age band changes11/14/09 OE file to OSPA

  • DPs as Tax DependentsPDB deleted Domestic Partner Certification for Dependent Tax Status prior to open enrollmentEmployee must give P/R a new certificate for 2010Enter in PDBPDB will interface alpha plan codePDB requestable report for IRS dependents

  • DP Not Tax DependentPrior to 10/26/09, OSPS will outdate the DPT/DPN entries on the P050E820-1 Gross Pay Adjustments OutdatedE820-2 Gross Pay Adjustments Beginning after OutdateE820-3 Duplicate Gross Pay AdjustmentsPDB requestable report for DPs and children with imputed value

  • 2010 Governors Food DriveBefore 1/23/10, OSPS will outdate on-going 2009 Food Drive deductions effective 2/28/10E560-04-01 List of In/Outdated Deductions report

  • TaxesW-2s for employees who received pay in 20091099-MISC for beneficiaries of deceased employees

  • Timing for Tax YearsThe employees taxable income includes anything received by December 31, 2009 (constructive receipt)November paid December 1 = last regular payroll run for 2009Use P010 FINAL CHECK dates to put payments made in December in 2009 tax year

  • Timing for Tax Years2009 Income includesFinal pay and leave pay-offs for employees separating on or before 12/31/09Overpayments not repaid by 12/31/09Fringe benefits received during the yearDecember paychecks cashed prior to 1/1/10

  • General Deadlines12/9/09, November Run 2:Last date for months prior to November to:Set P010 datesSet correctivesRequest check reversalsLast date to make 2009 cash payments to employees without setting P010 final check dates

  • General Deadlines Contd12/31/09, last date for 2009 to:Pay-off leave balances for employees who separated in 2009Accept repayments for 2009 overpaymentsRequest manual checks for employees with net pay positive adjustmentsACH stops and reversals to process normally

  • General Deadlines Contd01/11/10, December run 2, last date for 2009 to:Request check reversals or cancellationsEnter non-cash expense reimbursements or fringe benefitsCorrect negative YTD amounts

  • General Deadlines Contd01/11/10 Contd Last date to:Request P060 adjustments for separated employees with net pay positive adjustmentsRecord 2009 return of overpaymentCorrect payments from the B850-01 Nov or Dec Pay Reported in Two Tax Years

  • December SeparationsIf paid by December 31, put in 2009 tax year with P010 Check DatesWatch for maximum amounts:Social security - $106,800OSGP - $16,500FSAs - $5,000SVNN - $5,000 per primary ownerBetween 12/28 and 12/31/09 can reverse check or ACH and reissue

  • Separations Before DecemberAdjust / pay-off any remaining leave balances by 12/31/09E492 Terminated Employees Having Leave BalancesAdjust / pay-off net pay positivesE357-030 Separated Employees with Net Pay Positive Adj

  • TransfersDo not set P010 dates for December transfers

  • W-2sWill use address from the PPDBRemind employees to update HR recordsProduced by 1/21/10E381-20-2 W-2 Distribution ListIf transfer does not receive W-2, check with other agencyDistributed by 1/31/10

  • W-2s ContdIf XREF68N Employees with Negative Amounts Listed has YTD negative, employee will not receive W-2

  • Deceased Employees11/23/09 ANNLDEC Deceased Employees Agency Summary ReportMake sure all 2009 deceased employees are on the reportMake sure there are no employees who should not be on the report IRS Form W-9 for estate and/or beneficiaries due by 1/4/10

  • 1099-MISC01/31/10 = deadline to distribute 1099-MISC to payees of deceased employees final wages1099-MISC if:Payee receives $600.00Domestic partner insurance and 80 paid regular hours in final monthDPT $600.00Back-up withholding (28%) for any payee, regardless of amount

  • SSN / EIN VerificationWhen we file the 1099-MISC report, SSA compares SSN or EIN reported to the name in their fileIf they do not match, they return the form to us$50.00 penalty to specific agency for each one that does not matchPayee cannot get back-up withholding refunded without a match

  • Foreign Nationals01/04/10 = deadline for submitting:OSPS Form 99.01IRS Form 8233 or W-9 if exempt from withholdingNon-resident aliens have different withholding requirementsThe 99.01 will help ensure correct withholding and happy employees

  • Forms for New Tax YearNew W-5 due by 1/4/10New W-4 for tax exemption due 2/15/10

  • What Questions do you have?