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35,000 limit for non calendar plan years (work around)


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Last I heard (Oct) on this one, that they were still working on adding the ability to use 35,000 for non calendar year plans.

The only work around I know:

Plan Specs: code other plan type as DEFINED CONTRIBUTION

(1st screen in plan specs)

Census: other plan(s)[benefits/Contributions Screen,Plan YTD Amounts] enter a negative value.

employees with comp

employees comp > 140,000 enter -5000

otherwise take (comp -120,000) * .25

sorry, its the best I can come up with.

It's a bother, but it works, and I guess there are not a lot of ees you have to worry about.

..........

with service pack 2 they added a report 415.rpt

it is hardcoded at 30,000.

replace the 30000 figure with PLANSTAT.MAXANNADDAMT

you will have to add PLANSTAT to the report.

I have a custom allocation report that will check for 415 (however it will indicate ee is over 415 limit because I can't pull 35000 for non calendar plans. for calendar year plan it should work properly - depending on what the limit is) I have to get the guy in house to add them to our web site if any onbe is interested in using this report.

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there appears to be an alternative workaround to the 35,000 limit that I stumbled across. this one is real strange, but I tried it a couple of times and it worked. (of course on one plan only, but the logic should work on other plans.)

so, example. you have a plan 2/1/00 - 1/31/2001

create new plan year (2/1/01 - 1/31/02, go into plan specs of that year and verify that 35,000 is the new limit.

then go back to your original plan. as long as you do not go into plan specs (and save any changes), the system will use 35,000 as the limit. bizarre. I did not look to see what happens with the integration level.

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