Highly compensated employees, etc. have a compensation limit where 401k deductions also need to stop, but there is no way to do this in payroll.
by: Paralea B. | over a year ago | Payroll
Votes
3
401k deductions need the ability to stop at employee compensation limits as well as the IRS deduction limit
by: Paralea B. | over a year ago | Payroll
Comments
401k Deductions are subject to the withholding limits set by the IRS, but they are also subject to compensation limits for highly compensated employees. We can only pick one or the other but we need both options.