Automate a Supplemental Savings Plan for Wages Over the Qualified Plan Limit

Automate a Supplemental Savings Plan for Wages Over the Qualified Plan Limit

Reading time: 10 mins

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Learn the configuration of a special benefit plan, wage types, and a rule in payroll that makes contributions to a supplemental savings plan possible even in the middle of a pay period. Key Concept The US Internal Revenue Service prohibits contributions to a qualified savings plan from earnings that exceed the section 415 compensation limit....

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