My Oracle Support Banner

415 Limit Stops Savings Plan Deduction on First Paycheck of the Year (Doc ID 2493802.1)

Last updated on JANUARY 29, 2021

Applies to:

PeopleSoft Enterprise HCM Human Resources - Version 9.2 and later
Information in this document applies to any platform.

Symptoms

Deduction for Savings Plans was prematurely limited by the 415 Limit in the first paycheck of the year. The employee is retiring and the full amount allowed by the 402(g) Limit should be deducted from this first paycheck.

STEPS
---------------------------
1. Calculate Payroll (Navigation: Payroll for North America > Payroll Processing USA > Produce Payroll > Calculate Payroll).


Changes

 

Cause

To view full details, sign in with your My Oracle Support account.

Don't have a My Oracle Support account? Click to get started!


In this Document
Symptoms
Changes
Cause
Solution


My Oracle Support provides customers with access to over a million knowledge articles and a vibrant support community of peers and Oracle experts.