401K/Roth Match on Multiple Plans Not Correct When Employee Paid for Multiple Jobs With Multiple Benefit Record Numbers on a Single Check
(Doc ID 2940393.1)
Last updated on APRIL 07, 2023
Applies to:
PeopleSoft Enterprise HCM Benefits Administration - Version 9.2 to 9.2 [Release 9]Information in this document applies to any platform.
Symptoms
401K/Roth plans are set up for employee's contributions to roll over to another plan to address multi-level employer match when more than one plan is or could be involved. The amount currently being left in the main plan is greater than the percentage of the Special Accumulator on the main job (the only amount subject to the Savings Plans contributions) that will be matched at the first level with the remainder rolling over to the second level plan for an employee paid for both the primary job and secondary job on a single pay check. This is causing the company match on the second level plan to be incorrect in some cases.
Steps to reproduce the issue:
1. Run a payroll calculation (Navigation: Payroll for North America > Payroll Processing USA > Produce Payroll > Calculate Payroll).
2. Check the paycheck of an employee paid for multiple jobs on a single paycheck (Navigation: Payroll for North America > Payroll Processing USA > Produce Payroll > Review Paycheck) to see that the contributions on the first level plan are too high.
Changes
Cause
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In this Document
Symptoms |
Changes |
Cause |
Solution |