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Applied deferrals cap that is lower to what the PD says


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Guest caribbeanbenefits
Posted

The Plan provided a salary deferrals cap of $10k for the 2011 plan year. The payroll system was programmed with a previous cap of $8k (cap used in 2010). Certain HCE could have made salary deferrals over $8k but they did not because of the wrong payroll programming. There is no ER match involved here. How do I correct his issue?

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