Pension payment adjustments

Pension payment adjustments are made to a payment received by a pension participant. The types of adjustments you can be perform on pension payments include:

• Positive adjustments to earnings without increasing net pay

• Distribution codes changes on closed payments

• Pension adjustments have a positive effect on net pay, and therefore, use an offset or wash deduction

• Funding Source History adjustments

• Dollar adjustments between earnings codes, taxable to non-taxable, update tax deductions

• Payment entry as an adjustment with no funding sources and no GL entries

• Process Level changes associated with a payment

• Tax deduction corrections on pension payments

• Non-tax deduction corrections on pension payments

• Distribution type changes on pension payments

• Pension payment reporting changes from 1099R to W2

• Pension payment adjustments between earning codes