Employee Balance shows 0 even though there are run results

This is for US legislation. We have setup a new non-recurring element with classification Employer Liabilities. And a new balance which is fed by the Pay Value of this new element. When we assign this element to an employee and process it, we can see the run results correctly. But when we go to Employee Balances and search for Employer Liabilities, we see the balance as 0. It is happening for all employees.

The dates in the setup are all 01-Jan-1951. Also when viewing the balance, I have date tracked to various dates including the end of year.

Any idea why the balance shows as 0? Screenshot of issue is given below