Assign VRS Modernization Deductions
Menu Path
From the Human Resources menu, select Entry & Processing. From the Employee menu, select Employee Deductions.
Assign Deductions
You must assign the deductions to employees after creating VRS Modernization deduction codes.
Refer to the Employee Deductions page and set up employee deduction records.
For buyback and retirement deductions, enter a Start Date.
For retirement deductions, if an employee begins work after the first day of the month, the VRS Modernization system does not record creditable compensation or expect the employer to deduct or contribute a retirement amount for that month. To ensure the correct calculation of retirement deduction amounts, you must set the Start Date to the first day of the following month.For buyback deductions:
Enter a Stop Date.
Enter the per-pay amount in the Deduction Amount/Rate field depending on the number of pays over which the buyback is spread.
Enter the cost of additional service credits that the employee can buy in the Maximum Deduction field.