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Fusion US Payroll: Year End 2017: Unable to See Social Security Wage Limit Increase to $128,400 after Release 12, Update 12.1 (STAT3) (Doc ID 2338115.1)

Last updated on OCTOBER 06, 2020

Applies to:

Oracle Fusion Global Payroll Cloud Service - Version and later
Information in this document applies to any platform.


Release 12, Update 12.1 (STAT3) was applied on STAGE on 12/8/17
Year End 2017 guide says below.

Legislative Updates for 2018. No action is required by customer.
 Social Security Wage Limit increased to $128,400. (The IRS decreased the limit on 11/28/17)

 Deferred Compensation Limits for 2018:
o Deferred Compensation annual limit increased to $18,500
o Deferred Compensation Catchup limit remains $6,000
o Eligible Compensation Annual limit is $275,000

Go to Regulatory and Tax Reporting tab, access Manage Calculation Value Definitions, and query for "Social Security Tax Employee Wage Limit" as on 1/1/2018, the results window still shows 127,200 as on 1/1/2017, and it is not reflecting the above change.

Similar issue is there for "Social Security Tax Employer Wage Limit".
However I can see Deferred Compensation annual limit increased to $18,500.


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