Fusion Global Payroll (US): 401k Catch Up Element Does Not Process - Employee Eligibility/Processing
(Doc ID 2189800.1)
Last updated on FEBRUARY 03, 2019
Applies to:Oracle Fusion Global Payroll Cloud Service - Version 22.214.171.124.0 and later
Oracle Fusion Global Payroll - Version 126.96.36.199.0 and later
Information in this document applies to any platform.
Employee has reached his 401k yearly contribution limit of $18,000. He is over 50 years old so he is eligible to contribute to his 401k Catch-up. 401k Catchup element did not process for this employee even though it should have since he has met both of the qualifications.
Another employee with similar elements had Catchup element processed successfully.
The 401k Catch-up should be a pre-tax contribution that is available to all employees 50 year old or older who have hit their yearly 401k Max.
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