How to update Box 13 Retirement with an X on W-2s
Description of Issue
I am ready to print W-2s but would like for box 13 for retirement to show an X for employees using box 12G for 457.Â
Context
- Munis
- W-2 Wizard
- Deduction and Benefit Master
Cause
The "X" is populated during the creation of W-2s.Â
Resolution
If W-2s cannot be re-generated, manual adjustments will need to be made on Employee W-2s or the Mass Update can be used.Â
- Go to the Adjust step of the W-2 Wizard. (Payroll>W-2 and 1099-R Processing>W-2 Wizard. Click on Step 5. Adjust in the Menu.)
- Click Maintain W-2 Records.Â
- Define the Search in a way that pulls only Employees who need the Retirement checked into the active set. (example, click Search, click on the Box 12 tab, click the drop down arrow and select G for 457b) Click Accept.Â
- Click Mass Update in the menu.Â
- Click Define. Choose Define option of Define/Clear Flags.Â
- in the Define Clear Flags boxes choose a Flag of Retirement and Action of Define. Click Accept. Click Execute.Â
Additional Information
Here is how box 13 is checked automatically for retirement:
- Automatically for any employee who has deductions with W-2 Codes D, E, F, H, S or Y in the Deduction and Benefit Master.
- If the "Report Retirement Plans Based on Deductions" check box was checked when creating the W-2 records and the employee has one of the defined deduction codes.
- Selected automatically for employees that exist in New York Retirement with a tier other than zero.
- Globally defined through the Mass Update option.
- Manually adding it in the Adjust step of the W-2 Wizard or Employee W-2 and 1099-R program.