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  • How To Create 401k, 403b and 457 Deduction Elements (Catchup, Roth, ER Match, After Tax) (Doc ID 1234628.1)

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    How to Create 401k, 403b and 457 Deduction Elements (Catchup, Roth, ER Match, After Tax) (Doc ID 1234628.1)

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    How to Create 401k, 403b and 457 Deduction Elements (Catchup, Roth, ER Match, After Tax) (Doc ID 1234628.1)

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    How to Create 401k, 403b and 457 Deduction Elements (Catchup, Roth, ER Match, After Tax) (Doc ID 1234628.1)

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    54 vues3 pages

    How To Create 401k, 403b and 457 Deduction Elements (Catchup, Roth, ER Match, After Tax) (Doc ID 1234628.1)

    Transféré par

    jeffrey_m_sutton
    How to Create 401k, 403b and 457 Deduction Elements (Catchup, Roth, ER Match, After Tax) (Doc ID 1234628.1)

    Droits d'auteur :

    © All Rights Reserved
    Téléchargez comme PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    sur 3

    10/13/2015

    DocumentDisplay

    HowtoCreate401k,403band457DeductionElements(Catchup,Roth,ERmatch,After
    Tax)(DocID1234628.1)
    InthisDocument
    Goal
    Solution
    References

    APPLIESTO:
    OracleHRMS(US)Version11.5.10.2andlater
    Informationinthisdocumentappliestoanyplatform.
    ***Checkedforrelevanceon23MAY2013***
    ***Checkedforrelevanceon08FEB2015***

    GOAL
    Howdoyoucreatea401kelementand401kCatchupelement?
    Howdoyoucreatea401kRothelementand401kRothCatchupelement?
    Howdoyoucreatea401kEmployer(ER)Matchelementand401kEmployer(ER)MatchCatchupelement?
    Howdoyoucreatea401kAfterTax(AT)element?
    Theabovealsoappliesto403band457DeferredCompensationelements

    SOLUTION
    Thefollowingappliesto401k,403band457DeferredCompensationelements.

    A401kelementisusedfortheexample.
    The401kCatchup,401kAfterTax(AT),401kRothelementsand401kEmployer(ER)Matchelementsaregenerated
    bythesystemwhenthebase401kelementiscreated.Theycannotbecreatedseparatelyastheelementswillnot
    functionproperly.
    Example:CreateusingElementName"Base401k"
    TotalCompensation>Basic>Deductions
    ElementName=Base401k
    ReportingName=Base401k
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    Classification=PreTaxDeduction
    Category=DeferredComp401k
    NOTE:For403band457elements,youwillusetheCategoryDeferredComp403borDeferredComp457
    SetDeferredCompensationRulebycheckingtheboxesfortheelementsyouwantcreated
    EmployerMatch
    RothContribution
    AfterTaxComponent
    SelecttheCatchUpProcessing
    Sequential(Willprocessafterthebaseelementhasreachedthelimit)
    Concurrent(Willprocessatthesametimeasthebaseelement)
    NOTE:DONOTselecttheTotalReachedStopRule.
    ThelimitsaredeliveredbyOracleanddonotneedtobeenteredintheelemententryscreenmanually.
    TheDeferredComp(i.e.401k)limitdataisheldinPAY_US_FEDERAL_TAX_INFO_Ftable.
    Donotupdatethistable.TheinformationisdeliveredviaHRGLOBALassoonastheinformationismadeavailable
    bytheIRS.

    ClickontheAmountTab
    SelectFlatAmountor%Earnings
    Save
    NOTE:Thismaytakealittlewhileasthesystemisgeneratingalloftheassociatedelements,formulasandbalances

    Toviewtheelementscreatedpleasedothefollowing:
    TotalCompensation>Basic>ElementDescription
    Query[F11]Base%401k%[Ctrl][F11]
    Youwillseethefollowingelementsreturned:
    ArrowdowntoviewelementnameandPrimaryClassification
    Base401kSpecialInputsPreTaxDeductions
    Base401kPreTaxDeductions
    Base401kTaxableByJDPreTaxDeductions
    Base401kSpecialFeaturesPreTaxDeductions
    Base401kCatchupSIPreTaxDeductions
    Base401kCatchupPreTaxDeductions
    Base401kCatchupSFPreTaxDeductions
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    Base401kRothSIVoluntaryDeductions
    Base401kRothVoluntaryDeductions
    Base401kRothSFVoluntaryDeductions
    Base401kATSpecialInputsVoluntaryDeductions
    Base401kATVoluntaryDeductions
    Base401kATSpecialFeaturesVoluntaryDeductions
    Base401kEREmployerLiabilities
    Base401kATEREmployerLiabilities
    Base401kRothEREmployerLiabilities
    NOTE:ThereisnotaseparateRothCatchupelementgenerated.TheRothCatchupfunctionalityisincludedinthe
    Base401kRothelement.
    EnhancementRequestBug5095012ROTH401KCATCHUP(AND403B)NEEDSANAFTERTAXCOMPONENT
    DELIVEREDloggedrequestingaseparateelementforRothCatchup

    REFERENCES
    NOTE:330842.1HowToCreateACatchup401KElement
    NOTE:336242.1NewRoth401KRulesAllowAtCatchup,Systemdoesnotcreateanaftertaxcatchup
    NOTE:844709.1HowtoSetUpRoth401kCatchupDeduction
    BUG:5095012ROTH401KCATCHUPNEEDSANAFTERTAXCOMPONENTDELIVERED
    NOTE:255826.1HowToSetUp401kEmployer(ER)MatchOnCatchupElement
    NOTE:313693.1HowToSetupA401kEmployerMatchAndCatchupElement
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