For Employee Enrolled in Both 401K and 403B Plans, Extension of the 415(c) Limit for 403B Plans Also Extends the 415(c) Limit for 401K Plans
(Doc ID 3059882.1)
Last updated on DECEMBER 06, 2024
Applies to:
PeopleSoft Enterprise HCM Human Resources - Version 9.2 to 9.2 [Release 9]Information in this document applies to any platform.
Symptoms
Employees participating in both 401K and 403(b) Plans are having both 415(c) Limits extended even though they have a Savings Management extension record for only the 415(c) for 403(b) Limit.
Steps to reproduce the issue:
1. Add a Savings Management record extending the 415(c) for 403(b) Limit for an employee who does not have a record extending the 415(c) Limit for 401K Plans (Navigation: Benefits > Enroll in Benefits > Benefits Savings Management).
2. Run a payroll calculation for the employee in which the 401(k) deductions will cause the 415(c) Limit to be exceeded (Navigation: Payroll for North America > Payroll Processing USA > Produce Payroll > Calculate Payroll).
3. Check the paycheck to see that the 415(c) Limit does not stop the 401(k) deductions (Navigation: Payroll for North America > Payroll Processing USA > Produce Payroll > Review Paycheck).
Changes
Cause
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In this Document
Symptoms |
Changes |
Cause |
Solution |
References |