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Update an annuity payment batch

Some annuity benefits don't recur throughout the year and are paid out as a lump once or twice a year (for example, vacation and holiday). In these cases, you have to turn on the members' disbursement sequences when the payout time arrives, then turn them off until the next payout. Rather than doing this manually, use the Batch Update Annuity Pay screen to update the disbursements sequences of all the members who meet a set of criteria. This process will also automatically update members’ withholding types in Member Account Disbursements, including both new members and members with a zero balance (see GAP SAC <42>).

Note: The check process resets records with a lump transaction type to inactive after the payout. The batch update process activates the disbursement record and the print checks process inactivates these lump sum disbursements after the check is issued.

Go to: Home > Administration Processes > Annuity > Batch Payment Maintenance

  1. Enter the Fund to update.
  2. At Alpha or Numeric, select A to sort alphabetically or N to sort by member number.
  3. At Single/List/All, select the annuitant(s) to update:
    • S—A single annuitant.
    • L—A list of annuitants.
    • A—All annuitants.
  4. If you selected S or L at Single/List/All, enter the Member Number or List Name.
  5. At Flat or Percentage, choose F to disburse a flat dollar amount or P to disburse a percentage of a member’s account balance.
  6. Enter the flat amount or percentage in Amount.
  7. At Include Balance Reserve Accts, enter Y to include annuitants marked for balance reserve processing or O to only include balance reserve annuitants.
    8. Note: An annuity parameter controls if the balance reserve feature is enabled. If not enabled, this prompt will be skipped.
  8. At Update Recurring or Lump Amount, choose R if the amount should recur or L for a one-time (lump) disbursement.
  9. Enter the Transaction Code to represent the disbursement type.
  10. Choose any Withholdings to Include from the window. The withholdings you select will update new members’ withholdings or withholding types in Member Account Disbursements, including new members with a zero balance (see GAP SAC <42>). Members who already have a withholding record for the specified fund are skipped.

  11. Enter Y at Generate Report.
  12. Enter N at Update Files when you’re running this process for the first time. We recommend running this process twice. First, run the process without updating the files (enter N for Update Files).

  13. After verifying the report, enter C to run the process. The screen closes when the process completes.
Note: The fields that are required depend on the options you select.
Field Description
Fund The annuity fund.
Alpha or Numeric (A/N)

Determines the sort order of the report:

  • A—Alphabetically by annuitant’s last name.

  • N—Numerically by annuitant’s member number.
Single/List/All (S/L/A)

Determines which annuitant’s records to update:

  • S—A single annuitant.

  • L—A list of annuitants.

  • A—All annuitants.
Member No./List Name If you selected S or L at Single/List/All (S/L/A), enter the member number or list name.
Flat or Percentage (F/P)

Prescribes a fixed amount or a portion of the member’s account balance to be disbursed:

  • F—A flat dollar amount.

  • P—Percentage of account balance.

Amount The amount disbursed to an annuitant’s account based on the selection of Flat or Percentage. The amount will represent a flat amount or percentage.
Include Balance Reserve Accts (Y/O)

Determines if accounts with the Member Account Disbursement’s Balance Reserve check box selected are included in the run :

  • Y or Blank—Includes accounts with the Balance Reserve check box selected in the run. Blank is the default. When Y or Blank, the Update Recurring or Lump Amount (R/L), Transaction Code, and Withholdings to Include fields are enabled.

  • O—Only includes accounts with the Balance Reserve check box selected in the run. Fields 8 – 10 are disabled. The process will automatically assign the same transaction type and code as the previous disbursement, and withholdings to include doesn’t apply to members with a previous disbursement.
Update Recurring or Lump Amount (R/L)

Determines if the disbursement is repeated periodically (recurring) or is a single amount (lump):

  • R—Recurring amount.

  • L—Lump amount.

Transaction Code

The transaction code representing the disbursement type that will be associated with the payment.

Important! To calculate Annuity disbursement amounts by year, ensure the transaction code you enter here is in ANNYY format, where YY is the last two digits of the year. You must also have the Annuity Parameter Custom Annuity Batch Pymt Maintenance Flag set to Y.
Withholdings to Include

Any withholdings to include in the Batch Annuity Pay update. This process will create a withholding record and update withholding types and the retain type P for new members based on what withholdings you select.

When GAP SAC <42> Use Advanced Withholdings Calc (Y/N) is Y, the new members’ withholdings are updated in the new withholdings file. When N or Blank, the new members’ withholdings are updated in the old withholdings file.

Note: If a member already has a withholding record, it's not updated.
Generate Report (Y/N) Indicates if a report containing annuitants with updated pay will be generated. Run and check the report before updating files.
Update Files (Y/N)

This process puts into effect the changes specified by your responses to the Batch Annuity Pay Update prompt, above.

Note: When you opt to update the files, this process unchecks the Balance Reserve check box for all updated members and members who aren’t receiving a disbursement due to zero balance. Processed members will have an Active Check or Active Direct Deposit Payment Status. and the specified transaction code and amount in Member Account Disbursements.

Messages

Message Description
4179 - Note that ANNyy transaction code will cause custom calculation of amount. Entered amount will not be used. When the transaction code is ANNYY, the process ignores what's entered in the Flat or Percentage or Amount prompts.

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