Roth 401K Includes Catch Up, But 401K AT Is Stopping Short Of The Total Amount When Combined
Last updated on DECEMBER 18, 2017
Applies to:Oracle HRMS (US) - Version 12.1 HRMS RUP10 and later
Information in this document applies to any platform.
On : 12.1 HRMS RUP10 version, Pension/PreTax Processing
The Roth, Roth Catchup, AT, and ER contributions are stopping at 54000.00 max deductions. The PreTax 401K and all the components are not stopping until 60000.00 max deductions
Expect all 401K Deferred Comp deductions and ER Liability to stop at 60000.00
The issue can be reproduced at will with the following steps:
1. Process payrolls for a Highly Comped employee
2. Have Roth, Roth Catchup, AT, and ER Match that are all stopping with a total of 54000.00
3. Expect this total to not stop until 60000.00 annual deductions and ER liability
4. "The overall 401(k) contribution limits have increased for 2017. Including your elective deferrals, as well as any employer matching contributions, nonelective employee contributions, and any allocations of forfeitures, the overall 401(k) contribution limit is $54,000. For participants 50 or older, the $6,000 catch-up allowance applies to this limit as well, translating to an overall limit of $60,000."
5. The PreTax and Roth + AT are stopping at different limits
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