The payroll period I am about to process has an employee that will reach the 401k limit of $19,500.00 for 2020.
A certain amount should be calculated to arrive at this amount and the balance should calculate for a 401k catchup contribution if this deduction is setup for the employee.
The way things are now, payroll operator will need to calculate these numbers in advance.
When running in Test system the deduction did cutoff at $19.500.00, however, the entire salary was being calculated for the catchup. This is not correct.

by: Peggy P. | over a year ago | Payroll / Job Cost