Does anyone have any Best Practices are regarding whether we should keep one employee ID or create a new employee ID for retirees? Right now, if an employee retires, we use their termed employee number as their retiree number and move them into a retiree position as a regular retiree or for a pension payout. However, many times, they receive at least one payment as an active employee during the year and then later (in the same year), they terminate and request a payout of their pension contributions.
We are having trouble with our Federal Taxable amounts when someone gets a payout. Are you using one number for the employee and setting up a secondary number for either their retiree account or pension refund?
Thanks in advance!
Laura Webb
