Savings Plan Limit for 401K and Roth Catch Up Plans Not Stopping Contributions Appropriately
Last updated on NOVEMBER 13, 2017
Applies to:PeopleSoft Enterprise HCM Human Resources - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.
Catch up contributions for 401K and Roth plans are not being limited to a total of $6000 across plans, even though a Limit Table has been created for that purpose.
1. Set up catch up contributions as General Deductions (Navigation: (Navigation: Set Up HCM > Product Related > Payroll for North America > Deductions > General Deduction Table).
2. Create a Savings Plan Limit for the two General Deductions (Navigation: Set Up HCM > Product Related > Base Benefits > Rates and Rules > Limit Table)
3. Run a Payroll calculation (Navigation: Payroll for North America > Payroll Processing USA > Produce Payroll > Calculate Payroll)
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