Advanced Benefits - PSFT (MOSC)

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How to process missed employer paid benefit taxes from last year

edited Mar 30, 2022 1:34PM in Advanced Benefits - PSFT (MOSC) 3 commentsAnswered ✓

Hello!

Our Benefits department just informed us they missed setting up some ee's with Student Loan plan in PeopleSoft 9.2 but Fidelity has been paying $50 a pay towards their student loans in 2020.

We need to process and record the taxes on the employer paid benefit for student loans paid by Fidelity but it was for 2020.

What is the best way to accomplish this? We are thinking Balance Adjustment but they are so hard to do and there are quite a few employees impacted!

Thanks!!

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