One employer, two plans, different comp periods Options

[Annieruok]

I have an employer who has two plans, a MP and a SH401k. The MP contribution was frozen 9 months into the year, so I will be using comp only for that period. My SH401k plan will have teh full year comp. How do you use two different compensations (periods) for the same employer?

[Tom Poje]

I think under 'Employer' you could simply add another payroll schedule and then use that for one plan and then use the other pay schedule for the other plan.

[Annieruok]

I think under 'Employer' you could simply add another payroll schedule and then use that for one plan and then use the other pay schedule for the other plan.

Hi Tom,

I tried that, but then it just puts two payrolls in both plans. For instance, the employee's census screen shows annual comp of $52K, AND annual comp 2 of $40K (the 9 month comp). Is there a way to tell the plan to use only one of those payrolls, not both?

My work-around for the time being was to enter 9 month comp as salary and the remaining 3 month comp as commission. Then I just excluded commissions in my MP plan. Not ideal, and hopefully it doesn't affect anything else, but so far it seems to be working. Or at least the contribution allocated correctly...now I just need to see if it all tests right.

Thanks for your help!!
Annie