BSI Tax Group Code and Payroll Year End?

Greetings all,

This our first year on Lawson payroll and I have a question about the BSI tax groups and the new year. Our consultant set up a BSI tax group for for employees over 50 so they could exceed the standard 401K cap. Next year will we have to manually add all employees who will be turning 50 to that group or will that automatically add?

Thanks in advance for any input.

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sriman-shivakoti

We run an HR170 at the end of the year pulling age in the HR65 query. We use the as of date of 12/31/XXXX as one of the parameters in the HR170. XXXX equaling the end of the next year so when we run it this year, the parameter will be 12/31/2018. We then use add ins to upload the override group to anyone who will be 50 in the next year.

The other thing you will need to remember to do since the catch up rate increased by 500.00 is update/add a new override beginning 01/01/2018 for each tax authority affected in BSI.

Hope this helps.

unknown

We run an HR170 at the end of the year pulling age in the HR65 query. We use the as of date of 12/31/XXXX as one of the parameters in the HR170. XXXX equaling the end of the next year so when we run it this year, the parameter will be 12/31/2018. We then use add ins to upload the override group to anyone who will be 50 in the next year.

The other thing you will need to remember to do since the catch up rate increased by 500.00 is update/add a new override beginning 01/01/2018 for each tax authority affected in BSI.

Hope this helps.

Thanks for the input Margie but I do have a few additional questions. I'm sorry if them seem silly/trivial but work I finance not HR/PR only researching this on this because our PR team requested help.

What is the proper timing of this? Does it need to be done before the end of the year or just before the first payroll? Can we log into BSI and update the current code to reflect the current limits? Will people who already have the code retain it? How is the code added for new hires over 50, manually or automatic?

Thanks for any help offered.

sriman-shivakoti

All good questions.

You don't want to add the override code to employees turning 50 in 2018 until after the last payroll in 2017 is complete. Otherwise, they would look eligible for catch up in 2017.

You can update BSI now with a 01/01/2018 effective dated record since it is effective dated. Your other ones probably have an end date in the future and so you will need to update the stop date on those to be 12/31/2017.

People who have the code on their PR13/HR11 record will retain it.

New hires over 50 need to have it added at the time of hire or the system will not recognize the override limit.

unknown

All good questions.

You don't want to add the override code to employees turning 50 in 2018 until after the last payroll in 2017 is complete. Otherwise, they would look eligible for catch up in 2017.

You can update BSI now with a 01/01/2018 effective dated record since it is effective dated. Your other ones probably have an end date in the future and so you will need to update the stop date on those to be 12/31/2017.

People who have the code on their PR13/HR11 record will retain it.

New hires over 50 need to have it added at the time of hire or the system will not recognize the override limit.

Thank you so much!

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