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US PAY: New 457 deduction
We have a new 457 pretax deduction element for retirement and I'm not sure what the element Benefit Classification should be defined as. Our old 457 element has defined the Benefit Classification as 'Other'. On the deduction screen, the Category has been defined as 'Deferred Comp 457'.
I see that the option of 'Pension' and '401k' are available on the Element screen. Would it be better for me to chose one of these options vs 'Other'? If you could refer me to some documention defining how the Benefit Classification is being used in Oracle that would be greatly appreciated. Also, documentation on the Category field on the Deduction screen would be helpful. I am concerned about year end issues and want to set this element up correctly.
I see that the option of 'Pension' and '401k' are available on the Element screen. Would it be better for me to chose one of these options vs 'Other'? If you could refer me to some documention defining how the Benefit Classification is being used in Oracle that would be greatly appreciated. Also, documentation on the Category field on the Deduction screen would be helpful. I am concerned about year end issues and want to set this element up correctly.
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