Catch-up Election form

[alexa]

Does anyone have a good catch-up election form

Our 401k provider doesn't track catch-up separately but our ADP software stops someoen when they reach the 13K limit which means an employee over age 50 has to also elect a catch-up % in addition to regular 410k % or they won't rech the full 16K entitled to

How are you administering the catch-up?

[Sandra Pearce]

Our form requires the employee to elect a dollar amount per payroll. We enter that as a separate deduction from the % election made for their normal contribution. We put a stop on the normal 401k deduction (% of pay) with a maximum of $13,000. We put a maximum on the other deduction of $3,000. We adjusted the maximum allowable contribution in our payroll system to $16,000.