Multiple 401k Catchup plans working on same $5000 limit
We are implementing ROTH 401k at our work, we already have regular 401K. In the Benefits config, we were able to check off "qualified plan" on the plan attributes of both ROTH/401K plans. This made both plans correctly work together so that combined yearly contributions did not exceed the $15,500 limit.
However, we cannot get the ROTH Catchup and 401k Catchup to work together on the same $5000 yearly limit. The combined contributions should not exceed $5000, but we are seeing both plans are withholding $5000 a piece for a total of $10,000 combined.
Has anyone implemented this, curious if you could get the combined Catchup contributions to work through configuration, or did you have to go custom ABAP?