Savings Contributions Reaching Limit Prematurely when Employee Received an Off-Cycle Check in Previous Years
(Doc ID 2648982.1)
Last updated on MARCH 28, 2022
Applies to:PeopleSoft Enterprise HCM Human Resources - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.
Savings contributions - whether employer or employee - are reaching a Limit prematurely. The amount that is not being taken that should be matches the amount of contribution on off-cycle paycheck from an earlier year.
The issue can be reproduced at will with the following steps:
1. Calculate paryoll for an employee approaching but not yet exceeding the 415(c) Limit for 403B plan (Navigation: Payroll for North America > Payroll Processing USA > Produce Payroll > Calculate Payroll).
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