Important Payroll Update for 12/31/15 Pay Date
Important Payroll Update for 12/31/15 Pay Date
A processing error occurred on our payroll provider’s end that resulted in some employees’ TDA (Tax Differed Annuity) or Roth deductions not coming out of their pay or coming out at a lower than established amount. If you are one of the employees who are affected, your net pay for 12/31/15 will be more than expected due to this deduction error. We are working with ADP, our payroll provider, to correct this issue.
To resolve the problem, those affected will have a deduction in the pay of 1/15/16 taken for the remaining amount that should have been deducted on 12/31/15. This will be in addition to your regular TDA or Roth for that pay period, so if you are one of the affected employees, please plan accordingly for that extra deduction.
You will receive an additional e-mail in your SPIN e-mail account if you are one of the employees affected by this processing error. That e-mail will show the amount that should have come out in the 12/31/15 pay and the additional amount that will now come out of your 1/15/16 pay. If you do not receive a second email from payroll, you had the correct amount deducted. Please monitor your e-mail account for this important update from the payroll team between January 4th through 8th.
We apologize for this error. Please know we are making the correction the best way possible to ensure accuracy in SPIN’s plan requirements for the TDA and Roth benefits and accurate 2015 taxable wages.