Workday HR software set-up for DC plan - options for 415 limit

[bito'money]

I have 3 questions about Workday all as it relates to monitoring the DC Plan 415(c) Annual Addition limit ($58,000 in 2021.) 

1. Please confirm Workday can actually monitor the 415(c) Annual Addition limit.
2. Can Workday calculate DC Plan contributions sequentially: for example, determine non-elective contributions first before payroll deductions/matching contributions.
3. Can Workday also calculate DC Plan contributions concurrently: for example, Basic Pre-Tax, Basic Roth, and Matching Contributions can be calculated concurrently up to the Annual Addition limit.  Sequential deductions may lead to Basic Pre-Tax Deductions up to the annual addition limit with no room for matching contributions.

 

[BG5150]

Best would be to contact their support directly, no?

[bito'money]

Not a bad idea BG5150, but I was hoping to hear from fellow benefits nerds with 401k plan admin experience rather than payroll nerds without admin experience. 😀