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Showing results for tags 'fsa caps'.
Hello all, We outsource our benefits administration and use Workday Payroll. Currently we have to audit total FSA and HSA contributions at year end to ensure no one has gone over their election or IRS limit. I asked Payroll why we wouldn't have at least the IRS limits programmed on the Workday Payroll side, and the response was that Workday can only handle the 401(K) IRS limits. Does anyone have an experience with this? In my past experience with other payroll systems, the outsourced provider would send goal amounts with the FSA deductions that would be stored on the payroll side to ensure no one goes over that limit by year's end. Looking for any insights for those who may use an outside benefit administration vendor and Workday payroll. Thank you!