Updating Retirement Plan and Third-Party Sick Pay Flags

If your organization provides retirement plans or third-party sick pay to employees, you must update the retirement and sick pay attributes of the Year End Indicators element group.

To do this, access the YE_LOAD list set for PeopleSoft Global Payroll for United States in the Define List Set component (GP_ELN_SET), and update the Year End Indicators element group on the Element Group Attributes page. Select the Retirement Plan check box for the accumulator 401K EE_YTDA if your organization provides a retirement plan, and the 3rd Party Sick Pay check box for the accumulator SICK PAID_YTDA if your organization offers third-party sick pay.

When you load Wage and Tax Statement data, the system uses this information to update employees' federal tax data.