bito'money Posted September 22, 2021 Posted September 22, 2021 I have 3 questions about Workday all as it relates to monitoring the DC Plan 415(c) Annual Addition limit ($58,000 in 2021.) Please confirm Workday can actually monitor the 415(c) Annual Addition limit. Can Workday calculate DC Plan contributions sequentially: for example, determine non-elective contributions first before payroll deductions/matching contributions. 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 Posted September 22, 2021 Posted September 22, 2021 Best would be to contact their support directly, no? QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
bito'money Posted September 22, 2021 Author Posted September 22, 2021 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. 😀
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