Employee Savings Plan Deductions Exceed Regulatory Limits if Arrears Balance Exists
Last updated on OCTOBER 03, 2016
Applies to:PeopleSoft Enterprise HCM Human Resources - Version 9.2 and later
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.
Sign In with your My Oracle Support account
Don't have a My Oracle Support account? Click to get started
Million Knowledge Articles and hundreds of Community platforms