How to Apply the 401(a) Limit on an Individual Company While Having the 402(g) Limit Apply across Multiple Companies
(Doc ID 2730350.1)
Last updated on NOVEMBER 20, 2020
Applies to:PeopleSoft Enterprise HCM Human Resources - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.
There are multiple companies split into two controlled groups. An employee transferred between two companies, each in a different controlled group. After transferring, the employee re-elected a 401K Plan. Deductions for that plan were stopped by the system when the employee's total annual earnings from both companies exceeded the 401(a) Limit. The intention is that the 401(a) Limit should not be applied across the companies, but within each company individually, while the 402(g) Limit should apply across the companies. How can this be set up within the system?
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