Retiree Payment Tracking

The tracking of payments to former employees of a state, city, county, or school district is supported through a number of pages and system processes within Advantage. Tracking begins with the Retired Employee and Retirement Date indications on the Vendor/Customer (VCUST) page as the associated creation and maintenance transactions. Use of the feature begins by making these fields visible and populating them for existing and new retirees.

After setup on Vendor/Customer, the retired employee is then setup on the Retiree TIN (RETIRTIN) page that is required to connect a Headquarter Taxpayer Identification Number (TIN) for a retiree. Updated records on RETIRTIN are automatically updated to VCUST.

The Retiree Pay (RETIRPAY) page is similar to the 1099 Reporting Journal to track retiree payments. It has all the same fields, however, RETIRPAY has these additional fields:

• Employer Contribution Amount

• AED (Amortization Equal Disbursement) Amount

• SAED (Supplemental Amortization Equal Disbursement) Amount

The amounts are calculated as follows when the record is inserted or updated on the page:

• Employer Contribution Amount = Posting Amount x RETIRE_ER_CONTR_PC from APPCTRL

• AED Amount = Posting Amount x RETIRE_AED_PC from APPCTRL

• SAED Amount = Posting Amount x SAED Amount RETIRE_SAED_PC from APPCTRL

There are three batch processes that utilize the RETIRTIN and RETIRPAY pages to update the vendor records for retiree status and create Internal Exchange Transactions (IET) to reimburse portions of the retiree payments.

• Retiree VCUST Extract process

• Retiree Update process

• Retiree Billing process

Refer to the Accounts Payable Run Sheet Guide for more information on these processes.