Get Started with Redwood for Oracle Cloud HCM Begin Now
To ensure that questions get required attention from community members and are NOT left unanswered, it’s important for the author to indicate (by selecting “Yes” or “No” when prompted) whether the question was answered. (newly added) Please note that it is also important to respond to EACH comment your question receives. Your Yes or No response ensures an accurate status for your question.
For more information, please refer to this announcement explaining best practices for getting answers to questions.
For more information, please refer to this announcement explaining best practices for getting answers to questions.
Deferred Compensation 401k ER match not capping at annual compensation limit
Summary:
I have recently been doing some testing on our 401k plans and have found that when an employee has compensation greater than $350,000 the ER match does not cap at the annual compensation limit of $350,000.
We have the Employer Match element set to "Yes" on the Enforce Compensation Limit to stop when the annual compensation limit is reached. Has anyone encountered this and how did you solve the issue?
Thank you!
Content (please ensure you mask any confidential information):
Version (include the version you are using, if applicable):
24D
Code Snippet (add any code snippets that support your topic, if applicable):
Tagged:
0