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401k match allow 2nd limit of $265,000 for 2016 per federal law

401k Match stops when employee hits his limit of deductions, but it also stops when his compensation base hit the federal limit. For 2016 $265,000.

Rita Brown
Nov 21 2016
Shipped

PR - Payroll

Company	Morgan Corp.
Job Title / Role	VP Finance, Sec-Treas
I need it...	Yesterday...Come on already

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Guest commented

August 03, 2020 13:58

What is the current status on this update?

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Guest commented

January 29, 2020 15:51

It would be great to have this updated in an upcoming release so we don't have to manually track this or make adjustments before 4th quarter. Do we have an ETA?

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Guest commented

January 21, 2020 16:30

Any updates on this functionality?

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Admin

Gary Gilmore commented

October 11, 2019 21:43

Working on it - hope to include with 2019 year-end update

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3 Vote

In Payroll, we need the capability of setting a liability limit for the 401K Matching in a Mult-Tiered 401K Employer Match Setup Merged

We currently have no way of setting an annual limit to the 401K Matching amounts in the Multi-Tiered 401K Employer Matching setup and this has led to the employer match amount exceeding the IRS allowed matching amount of 5% of $275,000 for the 201...

Created 22 Aug 14:50 by Guest

PR - Payroll

1 Shipped

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