News

Employees are welcome to take advantage of two convenient opportunities to gain a better understanding of the SUNY retirement plans. These free presentations are designed to explain the basics of all of your options. 

Presented by: Brendan Dunuwila, CFP® - VOYA Financial Advisor 

Webinar: Introduction to SUNY Retirement Plans

Feb 17, 2021 12:00 PM  

Click Here to RSVP

Webinar: Introduction to SUNY Retirement Plans

Feb 25, 2021 12:00 PM

Click Here to RSVP

Faculty, staff and students paid via the NYS payroll system who are making mandatory contributions to a public retirement system, including NYS Employees Retirement System (ERS), NYS Teachers Retirement System (TRS), and NYS Police & Fire Retirement System (PFRS), as well as the SUNY Optional Retirement System (ORP), are required to report these contributions as income in the appropriate line on their NY State personal income tax return.   The dollar amount of these contributions is indicated in Block 14 of the 2020 W-2 form as 414(h).  Failure to include this amount before filing your NY State tax return can result in additional tax payments and interest due.  If your 2020 W-2 form does not include a 414(h) code in block 14, please disregard this reminder.

Final paychecks for the year 2020 for Faculty/Staff and GA/TA payrolls were issued on 12/23/2020, and final paychecks for Federal Work Study and Student Assistant payrolls were issued on 12/31/2020.  These include final gross salary for the year 2020, and if applicable, total health insurance premiums and union dues paid in 2020.  Please retain final paystubs with tax records, or access via the SUNY portal by clicking the icon “view paycheck”.

Dan Kain from NYS Deferred Compensation will be holding a Deferred Compensation Enrollment webinar on Tuesday, January 26 at 12:00 pm, and also a Deferred Compensation Pre-Retirement webinar on Thursday, January 28, at 12:00 pm.

The enrollment webinar will focus on the basics of Deferred Comp for anyone interested in learning more about the plan as well as how to enroll.  The retirement webinar will focus on calculating your NYS pension, how and when to withdraw your NYS Deferred Comp money and the taxes involved with doing so.  

Registration is required using one of the links below:

Deferred Comp Enrollment Webinar
Tuesday, January 26, 2021 - 12:00 pm
https://nationwidepcsales.webex.com/nationwidepcsales/onstage/g.php?MTID=e867ecb3c00329eb3b565cec96eb9d9cf

Deferred Comp Pre Retirement Webinar
Thursday, January 28, 2021  - 12:00 pm
https://nationwidepcsales.webex.com/nationwidepcsales/onstage/g.php?MTID=e8bf860e4551ed2e948eb8d41a38f260b

Guide on Accessing W-2 Forms via New York State Payroll Online (NYSPO)

2020 UUP Discretionary Increases for Staff Memo

2020 UUP Discretionary Increases for Faculty Memo

The 2021 NYSHIP Option Transfer and Pre-Tax Contribution Program (PTCP) Election Period will run from Monday, November 30 through Thursday, December 31, 2020.  Employees who wish to request a change for 2021 during the Option Transfer Period must submit a completed Health Insurance Transaction Form (PS-404) by December 31, 2020 to the Office of Human Resources. 

Employees currently enrolled in the NYSHIP Opt-Out Program are NOT required to reenroll for 2021 if you wish to continue the Opt Out benefit.  However, you must notify Human Resources if you are no longer eligible for the other employer-sponsored health coverage.

2021 NYSHIP Bi-Weekly Health Insurance Rates with link to PS404 Health Insurance Transaction Form:

CSEA, M/C, NYSCOPBA & UUP

PBA-NYS & PEF 

Please click here for the annual memo regarding weather related absences.

The 2021 open enrollment period for the Flex Spending Account (FSA) will run from Monday, Nov. 2 to 10 p.m. Monday, Nov. 30. The FSA program can assist state employees in saving money to pay for necessary health or dependent care expenses because money set aside in your accounts is not subject to federal, state and social security taxes. Once you are enrolled, your contributions will be withheld on a bi-weekly, pre-tax basis from your paychecks during the 2021 plan year.

The FSA is comprised of three important benefits for employees: the Health Care Spending Account (HCSA), the Dependent Care Advantage Account (DCAA) and the Adoption Advantage Account. Eligible employees may choose to enroll in any or all of the benefits. Keep in mind this is a use-it-or-lose it benefit. Any funds you set aside that are not accounted for by Dec. 31 each year will be forfeited.

If you are currently enrolled in the plan and wish to continue the benefit for 2021, you must re-enroll by the strictly-enforced deadline of 10 p.m. Nov. 30. Enrollment does not carry over from year to year. Beginning Nov. 2, you may enroll online at the link below or by phone at 800-358-7202.For program and enrollment details, including information to have handy when enrolling, visit the How to Enroll page on the FSA website or call 800-358-7202 .

A reminder regarding phased retirement and work reduction options available to employees.

For more information regarding Phased Retirement options, please click here.

For more information regardig Other Voluntary Reduction in Work Schedule Programs, please click here.

All faculty, staff, and student employees paid on the New York State payroll who are making mandatory contributions to a public retirement system, including NYS Employees Retirement System (ERS), NYS Teachers Retirement System (TRS), NYS Police & Fire Retirement System (PAF), as well as the SUNY Optional Retirement Program (ORP), are required to report these contributions as income in the appropriate line on their New York State personal income tax return. The dollar amount of these contributions is indicated in Block 14 of the 2019 W-2 form as 41 4(h). Failure to include this amount before filing your New York state tax return can result in additional tax payments and interest due.

Please be aware that only those faculty, staff, and student employees who are contributing to a public retirement system are impacted. If your 2019 W-2 form does not include a 414(h) code in block 14, please disregard this reminder.

For more information, please contact the NYS Dept. of Taxation and Finance at: (800) 225-5829, or visit www.tax.ny.gov.

2020 Taxation of 414(h) Retirement Contributions