STRS Advance Balancing

Owned by Lori Miller
Last updated: Jun 17, 2022
4 min read


Sample Report-


Non-taxed Earnings is the total STRS applicable gross for the Fiscal Year.  It does include the amount remaining on contract (compensation obligation – paid – docked).  Non-taxed Earnings is the total for employees who have a STRS annuity or Employer STRS withheld.


Non-taxed Advanced Amount is the contributions that will be paid over the summer months for employees who have a STRS annuity or Employer STRS PU withheld.


If district withhold Employee contributions using the 450-Taxed Earnings is the total STRS applicable gross for the Fiscal Year.  It does include the amount remaining on contract (compensation obligation – paid – docked).  Taxed Earnings is the total for employees who have an employee amount withheld on their STRS item (non annuity).


450-Taxed Advanced Amount is the contributions that will be paid over the summer months for employees who have an employee amount withheld on their STRS item (non annuity).


Taxed + Non-taxed is the Non-taxed Total (Non-taxed Advanced Amount (15200.31) + Non-taxed Deposit/Pick up (537631.53) from the report totals plus the Taxed Total if applicable (Taxed Advanced Amount + Taxed Deposit/Pick up) from the report totals will equal your Non Taxed Total.


Amount Advanced is the amount that will be paid toward the advance over the summer months.  It is the total of Non-taxed Advanced Amount and Taxed Advanced Amount if applicable.


Regular Employee Count is a count of employees on the report who are not rehired retirees.  A mid year retiree will count as both a regular employee and a rehired retiree.


Regular  Contributions is the total employee amount withheld on STRS items (450-non annuity).  Does not include rehired retiree amounts.  This amount also includes total taxed advanced amount.


Regular Pickup is the total employee amount withheld on STRS annuity items 591 plus total amount withheld for 691 Employer STRS items.  Does not include rehired retiree amounts.  This total also includes total non-taxed advanced amount.


Non-taxed Deposit/Pick up  is the amount contributed to date for FY 22. It is the total employee amount withheld on STRS annuity items plus total amount withheld for Employer STRS items. 


Non-taxed Total is the total of FY YYYY contributions to date + advanced contributions for current Fiscal Year. Non-taxed Total is the total of Non-taxed Deposit/Pick up plus Non-taxed Advanced Amount.


Taxed Deposit /Pickup is the amount contributed to date for FY YYYY. Taxed Deposit/Pick up is the total employee amount withheld on STRS items (non annuity). 


Taxed Total is the total of FY 22 contributions to date + advanced contributions for Current Fiscal Year. Taxed Total is the total of Taxed Deposit/Pick up plus Taxed Advanced Amount.


Retiree Advanced Amount is the total advanced amount for employees who are rehired retirees.


Rehired Retiree Count is a count of employees on the report who are rehired retirees.  Reminder--A mid year retiree will count as both a regular employee and a rehired retiree.


Retiree Contributions  is the total employee amount withheld on STRS items (450-non annuity) for rehired retirees. This amount also includes taxed advanced amount for rehired retirees.


Retiree Pickup is the total employee amount withheld on STRS 591-annuity items plus total amount withheld for Employer STRS items 691 for rehired retirees.  This total also includes non-taxed advanced amount for rehired retirees.


Balancing

The taxed + non taxed deposit pickup amount (Sample-552831.84)  - Advance Amount (Sample-15200.31)  which is the amount that will be paid over the summer = Current Non-Taxed Deposit Pickup to STRS for Fiscal Year.

 

To find advance amounts that were paid last summer go to Reports/STRS Reporting/Check STRS Advance Report. Enter in the start date and stop dates for last summer’s advance dates. (Ex. 7/1/YY – 8/25/YY This will give you a total dollar amount for contributions withheld over the summer.

 OR

Archive reports Payroll Item Detail Report will contain the STRS Advancement amount paid for each payroll over the summer months while in Advance.

 

To get total payables paid for STRS for the Fiscal Year go to Payments/Payee/Payee Payment Checks or Payee Electronic Transfers and filter on Payee Name/Name on Payment (STRS)  and  STRS filter date 7/1/YY..6/30/YY. Make sure Amount is on the grid. Create a report This will give you a total for the fiscal year paid to STRS.

Go to Reports/Employer Distributions or Employer Retirement filter dates 7/1/YY..6/30/YY. The report will give you a total for the fiscal year paid to STRS.


You would take the Non Tax Deposit Pickup--53,7631.53 + Check STRS Advance Report Amount + Employer Contributions=Total FYTD STRS payments

Should match report totals processed from 7/1/YY to 6/30/YY  Payments grid and Employer Distribution.

OR

Take 7/1/YY to 6/30/YY totals from Payments/Payee grid payments to STRS report + Employer Distribution (691) minus Check Advance totals from last summer=Non Tax Deposit Pickup amount.