How are life pension payments reported?
Life pension payments should be reported under the payment/adjustment code 030 – permanent partial/scheduled. Q: Should the paid to date/reduced earnings/recoveries code, 310 – penalties paid to date, take into consideration any refund or rebate paid by a claims administrator to an employer based on a penalty assessed against the claims administrator for mishandling a claim? A: No. The amount reported should include all assessed penalties paid on a claim, regardless of whether the claims administrator refunded any of the penalty amounts to the employer.
