10-P-014 Addition of New Voluntary Tax Sheltered Annuity Company Benefit Plan Codes to Accommodate Vendor Setup in SHARP
| DATE: | December 11, 2009 | ||
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| SUBJECT: |
Addition of New Voluntary Tax Sheltered Annuity Company Benefit Plan Codes to Accommodate Vendor Setup in SHARP |
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| EFFECTIVE DATE: | December 13, 2009 | ||
| CONTACT: |
Roger Heckerson |
(785) 296-2737 |
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| APPROVAL: |  |
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| SUMMARY: |
Change to the Setup of Voluntary Tax Sheltered Annuity Company Benefit Plans in SHARP |
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Currently, only one Voluntary Tax Sheltered Annuity Benefit Plan (Plan Type-4Z, Benefit Plan- VTSA) is established in SHARP. Because of the implementation of the new Statewide Management, Accounting and Reporting Tool (SMART) system on July 1, 2010 new Voluntary Tax Sheltered Annuity Benefit Plans are being added in SHARP in order to accommodate required vendor configuration for each current VTSA investment option. All the new VTSA benefit plans will continue to use the same ‘VTSA’ deduction code and ‘4Z’ Plan Type. The following new VTSA benefit plans will be added in SHARP effective December 13, 2009.
Benefit Plan - Current Investment Option Description
VTS009 - ING Voluntary
VTS024 - ING
VTS025 - AIM Investment Services, Inc.
VTS057 - American United Life Ins Co
VTS059 - AIG SunAmerica Life Assurance
VTS064 - Thrivent Financial for Luthera
VTS186 - AXA Equitable Life Insurance
VTS272 - Guardian Life Ins Co of Americ
VTS321 - Ameriprise Financial Services
VTS337 - ICAP
VTS357 - John Hancock Funds, Inc.
VTS378 - Farm Bureau Life Insurance Co
VTS412 - Lincoln Benefit Life Company
VTS413 - Lincoln Investment Planning
VTS416 - Lincoln National Life Ins Co
VTS422 - Thrivent Financial for Luthera
VTS444 - Mass Mutual Life Ins Co V A
VTS446 - Metropolitan Life Insurance Co
VTS468 - Modern Woodmen of America
VTS470 - Conseco Life Insurance Company
VTS474 - Nationwide Life Insurance Co
VTS501 - New York Life Insurance Co
VTS506 - ReliaStar Life Insurance Co
VTS507 - Northwestern Mutual Life Ins C
VTS569 - Phoenix Mutual Life Ins Co
VTS584 - Prudential Ins Co of America
VTS595 - Putnam Financial Services Inc
VTS655 - Security Benefit Life Ins Co
VTS687 - MFS/Sun Life Assur of Can(USA)
VTS695 - Teachers Ins Annuity Assoc
VTS696 - Teachers Ins Annuity Assoc
VTS702 - Travelers Insurance Company
VTS710 - American Century Investments
VTS724 - The Union Central Life Ins Co
VTS728 - Variable Annuity Dept – UNUM
VTS743 - USAA Life Insurance Company
VTS769 - AIG Variable Annuity Life Ins
VTS775 - Fidelity Investments Inst Serv
VTS785 - Waddell & Reed Financial Serv
VTS792 - American General Annuity Ins
VTS821 - Pioneer Investment Mgmt Serv
VTS823 - The Vanguard Group of Inv Cos
VTS828 - PFS Investments Inc.
VTS829 - Mackay-Shields Tax Shltd An Pr
VTS830 - John Hancock Life Ins Co (USA)
VTS831 - Janus Capital Corporation
VTS834 - National Western Life Ins Co
VTS835 - Invesco Funds Group Inc
VTS838 - LIFEUSA
VTS839 - American Funds Investors
VTS842 - New England Financial
VTS843 - MetLife Investors USA Ins Co
VTS844 - First Investors Corp
For consistency of use throughout 2010, these new Benefit Plans will be effective in SHARP starting with the payroll period beginning December 13, 2009 and ending December 26, 2009, paid January 8, 2010. In order to transition the employee set up from the current Benefit Plan (VTSA) to the appropriate new Benefit Plan listed above, the Department of Administration, Division of Personnel Services (DPS) will be responsible for changing the current enrollment for affected employees on the Savings Plans table in SHARP effective December 13, 2009. DPS will establish a new row on the Savings Plans table effective December 13, 2009 using the new Benefit Plan appropriate for the Investment Option in which the employee is currently enrolled. Agencies should note that the Investment Options listed above already currently exist in SHARP under the one Benefit Plan (VTSA). Only the VTSXXX Benefit Plan codes listed above will be added new to the system.
The Division of Accounts and Reports, Payroll Systems Team is responsible for adding these new Benefit Plan codes to the SHARP payroll system. Regent’s institutions are responsible for ensuring that all these changes are made in their respective systems effective with the payroll period noted above. Regent’s institutions should also ensure that these changes are included on the Benefits Interface file that is submitted to SHARP.
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