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ACA – Affordable Care Act

ACA – Affordable Care Act. Disclaimer – waiting on finalized policy from DAS/CHRO 30 hours a week or 1560 annually considered benefit eligible Initial Measurement Period – November 2013 to October 2014: OSPS Tracking ongoing employees: Agency Health Reform (ACA) trainings – coming soon…

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ACA – Affordable Care Act

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  1. ACA – Affordable Care Act • Disclaimer – waiting on finalized policy from DAS/CHRO • 30 hours a week or 1560 annually considered benefit eligible • Initial Measurement Period – November 2013 to October 2014: OSPS • Tracking ongoing employees: Agency • Health Reform (ACA) trainings – coming soon… • Datamart query – a tool for tracking hours

  2. Go To: • File • Open From Repository • Select your OCE

  3. Press the plus mark next to the “Standard Query with Reports” Folder

  4. Scroll Down Until…

  5. You see “OSPS-ACA Hours”. Click “Open”

  6. 2014 YearEnd Process

  7. 2014 OSPA Year End Time Line October November Final Run 2 After Nov Run 2 - 2014 fixes YE Reports December Final Run 2 Outdated Items

  8. October Run 1 (10/27/14) October Run 2 (11/07/14)

  9. 2014 OSPA Year End Time Line November Final Run 2 After Nov Run 2 - 2014 fixes YE Reports December Final Run 2 Final Entries

  10. November Final Run 2 (12/08/14)

  11. 2014 OSPA Year End Time Line After Nov Run 2 - 2014 fixes YE Reports December Final Run 2 Close of the 2014 Tax Year

  12. After Nov Run 2 – 2014 fixes (12/09/14 – 12/31/14)

  13. The Importance of P010 Dates for December Terms • A P010 date dictates to OSPA which tax year December pay should go in. • If a December term does not have a P010 date you will need to correct the following documents. • 2014 W-2 • 2015 W-2 • Social Security Taxes for highly compensated employees • Federal or State Income Tax changes

  14. The Importance of P010 Dates for December Terms- Example • On December 31, 2014 you issue an agency check to a retiring employee for $13,277.90 • But you forget to request a P010 date. • Now the employee’s final payout is in tax year 2015.

  15. The Importance of P010 Dates for December Terms- Example Federal Tax rate has changed resulting in a $45.06 difference. Employee maxed out of SSEC in 2014. OSPA has now paid SSEC for 2015. Now the employee has a net pay negative in 2015. The Agency will need to work with OSPS to correct both 2014 and 2015 W-2s and clear the net pay negative.

  16. 2014 OSPA Year End Time Line YE Reports December Final Run 2 What to Look For

  17. Year End Reports – Important Dates

  18. Year End Reports – Important Dates…cont’d

  19. 2014 OSPA Year End Time Line December Final Run 2 Last Chance - 2014

  20. December Run 2 – 1/09/15

  21. Important Dates

  22. JEOPARDY What is the easiest way to guarantee a 2014 and 2015 W-2c? Topic: Corrected W-2 An employee cashes their December paid January paycheck early

  23. Correcting a W-2

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