OSPS E-News ~ VOYA Percentage Based Deductions

[Announcements from OSPS to the users of the Oregon State Payroll Application]

Payroll partners,



As part the January Change Advisory Board (CAB) release, the DAS Workday Team has implemented a system update to correct the percentage-based deduction of VOYA deferred comp and/or Roth IRA for employees who elected a percentage-based deduction and not a flat dollar amount.

Prior to this update, employees with percentages based deferred comp deductions were only able to have that percentage deducted from the first of the month payment. With this update, employees with percentage-based deferred comp deducted will now see this on their first of the month and mid-month payment starting with the April. 15, 2024, pay date.

For example, if an employee elected 5%, they would see a 5% deduction on their first of the month pay on April 1, 2024, and, on the mid-month pay, on April 15, 2024.


The list of impacted employees can be found on Workday Drive: Payroll Partner Resources > VOYA Percent Based Deductions > "VOYA Percent Based Deduction Employee List".  Attached is a sample email that can be used to send out to employees impacted by this change.



Timeline of impact to employees:

*        February: Employees will have this month to make Oregon Savings Growth Plan (OSGP) percent-based updates as needed. Timing of any changes will follow OSGP established guidelines and timing for implementation of election updates.

o   Please refer to the OSGP website for more information on updating OSGP elections: https://login.voya.com/voyassoui/index.html?domain=osgp.voya.com#/login-pweb

o   Please note: OSGP updates made in the month of February, will be loaded into Workday with a March effective date.

*        March Run 1 Payroll:

o   March 26 - Payroll processing for April 1 pay - Update will be in Workday and deductions will occur as usual (no change)

o   April 1 - Pay date, employees will see the percentage-based Oregon Savings Growth Plan (OSGP) deferred comp/Roth deduction on their payslip (reflects any changes made with OSGP in the month of February)

*        March Run 2 Payroll:

o   April 9 - Run 2 payroll processing and OSGP percent-based deductions will deduct from employee's mid-month pay (reflects any changes made with OSGP in the month of February).

o   April 15 - Pay date, employees will see the percentage-based OSGP deferred comp/Roth deduction on their payslip.



Please note: Employees that have an elected flat dollar amount for their VOYA deferred comp and/or Roth IRA will only have that deducted on their first of the month pay date and this will not be impacted by this change.



Thank you,

Workday Payroll Team
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