US Benefits: 401K EE contribution

[Former Member]

Hi,

I have a requirement that even though emp reaches yearly compensation limit of 245000, EE contribution should continue and ER Contribution should stop for 401K savings plan. Can i configure the same in system? in my system both are stopped once emp reach compensation limit.

Thanks

Vinoli

[former_member182083 · Accepted solution]

Hello Vinoli,

By maintaining the constant Value in T511K, this can be controlled

HCEER = 1

By maintaining T511P-HCSLM is not equal to 1 & if HCE Limit is reached, this will

1) Continue 401K EE pre-tax contributions

2) Continue Catch-up contributions

3) Stop ER catch-up Contribution

There is lot of notes available explaining how system will behave my maintaining the values in constant

HCSLM, HCEER and HCSLC.

With Regards,

S.Karthik