Employer Match Contribution Deductions are Not Being Limited as per the Savings Plan Configuration When The Special Accumulator Is Negative.
(Doc ID 2763880.1)
Last updated on APRIL 12, 2021
Applies to:PeopleSoft Enterprise HCM Human Resources - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.
When an employee's 401K has a negative earnings check and the earnings special accumulator associated to the employee's Savings Plan enrollment is negative, the employer match is not limited based on the savings plan's employer contribution setup to limit to 6% of earnings.
The issue can be reproduced at will with the following steps:
1. Configure a Savings Plan with an Employer Match of 100% and a contribution Limit of 6%. Navigation: Setup HCM > Product Related > Base Benefits > Plan Attributes > Savings Plans.
2. Enroll the employee with 8% before tax. Navigation: Benefits > Enroll In Benefits > Savings Plans.
3. Create a negative earnings check for this employee to see that the employer contribution is a negative 8% and is not limited to 6%. Navigation: Payroll for North America > Payroll Processing > Create Online Checks.
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