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457 to include in IRS limit

edited Sep 18, 2020 11:10PM in Payroll and Global Payroll Interface (GPI) 6 comments

Summary

457 [Employee + Employer match] to include in IRS limit

Content

Hi All,

We are using delivered 401K elements and modified to display as 457..All employee contribution and employer match amounts must be considered toward the maximum IRS annual limit ($19,500 if under age 50 and up to $26,000 if over age 50). Please advise what we have to do to meet this requirement.

Thanks for your help!

Satya

 

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