WS:07: 401K & 401K Catch Up With Multiples Should Stop At a Limit
(Doc ID 1981119.1)
Last updated on FEBRUARY 01, 2019
Applies to:JD Edwards World U.S. Payroll Processing - Version A9.2 cume 1 and later
Information in this document applies to any platform.
When an employee has multiple 401k deductions (because of company match) and multiple catch-up 401k deductions and reaches the annual limit, the catch-up is exceeding the employee elected percentage. For example, if an employee elects 7% for 2 401k (7% for the regular 401K and 7% for the 401K catch up) and catch-up deduction, when the annual limit is reached for the regular 401K and the 401K catch up started to calculate, a total deduction for this pay period is 14%. It should only be 7% total between the remainder of the 401K regular plus 401K catch up.
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