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Secure 2.0 - Does oracle now automatically stop base contributions for those impacted by Secure 2.0?

in Payroll and Global Payroll Interface (GPI) 15 comments

Hi all!

Does Oracle now 'automatically' stop base contributions when base limit of $24,500 is reached? Employee has pretax and roth contributions, and their base contribution reached limit of $24,500. Payroll calculation then only processed Roth catchup.

Employee has base pretax, base ROTH, catchup pretax, and catchup Pretax on calculation card > benefits and pensions.

Reporting Information Card > Eligible for Pretax Catchup Contribution is blank, which means employee is eligible for pretax catchup by that field. This is the key to my question.

But on person results, I am seeing no pretax catchup contribution. Furthermore under messages, I am seeing: The IRS Annual limit for the 403B deduction was reached. A partial deduction will be taken.The deduction for element 403B wasn't completely withheld because funds were insufficient.

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