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401K calculation exceeding threshold for employee Job Change

in Planning 5 comments

Problem Summary:

We are using Workforce OOB, Let's say if the employer is giving 3% on Salary with Threshold limit of $12000 for 401K Benefit. we are loading Workforce data from HCM every quarter.

Let's say if EMP1 ->JOB1 has $600,000 Annual Salary (assuming), EMP1 is reaching $12000 401K threshold limit by Jun /Jul or even before Jun.

If the EMP1 promoted to JOB2 in Mar, then EMP1 401K calculated JOB1 and 401K is calculating in JOB2 from March from Zero(0) until 401K threshold limit reaches to 12,000 again in JOB2.

Issue/Concern from Customer:

Overall 401K for EMP1 is more than threshold (12000) due to some amount in JOB1 + 12000 in JOB2.

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