Oracle Fusion Benefits: Maintain Maximum Annual Rate ( Self Service) (Doc ID 2239990.1)

Last updated on JUNE 08, 2022

Applies to:

Goal

Requirements:

Maintain Annual Maximum contribution for the 457 plan ( Saving plans ) , the employee is allowed to contribute as much as they want as long as they don't exceed the maximum


Test Case :

Maximum Contributions of 457 per year is 18000
It is a semi-monthly period
The employee want to contribute 1000 per pay period ( to complete the 18000 in 9 months)
The Participants enter 1000 during enrollment ( The client wants the unit to be amount and not percentage)

Current results
The annual rate = 1000*24 = 24000

The expected results are :
Expected results = 18 000 ( As it is the maximum )

Note:
From a calculation prospective , I did pass the maximum 18000 in the "Override IRS Limit" Input Value

Questions:
Is it possible to limit the annual rate to a maximum of 18 000 ?

Attachments :

Please check the attached file for more details

Plan Setup
Standard Rates
Self Service
Element entries
 

Solution

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