EPY: Retirement Checkbox Checked Yes on the W-2 When It Shouldn't Be
(Doc ID 2583472.1)
Last updated on MARCH 12, 2021
Applies to:PeopleSoft Enterprise HCM Payroll for North America - Version 9.2 and later
Information in this document applies to any platform.
On : 9.2 version, Year-End
An employee is paid earnings and 401k last year. After TAX504 is run in the previous year, the Pension Flag on the current Federal Tax Data for the employee is set to 'Y' because the employee has 401k balances and 401k was specified on the TAX504 run control. This is correct.
This year the employee doesn't have 401k and has Box 12DD defined for Employer health benefits. After TAX504 is run, the current Federal Tax Data for the employee is still showing the Pension Flag as 'Y'. This is not correct because the employee does not have any 401k balances in the current year.
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