Employee Savings Plan Deductions Exceed Regulatory Limits if Arrears Balance Exists
(Doc ID 2189346.1)
Last updated on SEPTEMBER 06, 2021
Applies to:PeopleSoft Enterprise HCM Human Resources - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.
An employee over age 50 who had an Arrears Balance for Savings Plan contributions reached the extended (age 50+) 402(g) Limit for their Roth contributions on one paycheck, but on the next paycheck the deduction began again.
1. Calculate a payroll (Navigation: Payroll for North America > Payroll Processing USA > Produce Payroll > Calculate Payroll.
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