Terminating Deferred-Vested Employees

When an employee terminates with a vested benefit, you perform most of the tasks that you perform when an employee retires. You perform these tasks at two different times: at termination and at benefit commencement.

The following table shows the activities required to retire an employee and to terminate a deferred-vested employee:

Retiring an Employee	Administering a Terminated Deferred-Vested Employee
Establish the payee record.	Do this at termination. Select the payee type Terminated Deferred Vested.
Update the pension status.	Do not do this. The system automatically maintains the status Terminated Deferred Vested.
Calculate the benefit. Protect the calculation. Record the optional form of payment selection. Schedule payments.	Do this once at termination and again at benefit commencement. The schedule that you create at termination time is required in order for the actuarial valuation extract to report on the known liability of the employee's pension benefit. The schedule that you create at benefit commencement date is used to pay the employee.
Record tax, direct deposit, and deduction information.	Do this at benefit commencement.