401(k) deduction as a % of Gross Pay

[Former Member]

Hello Gurus

My client wants to calculate 401(k) deductions as a % of gross (incl Overtime) and then match the EE deduction with a certain % as a contribution in IT0014. I think there is some rule to be customized for this. Can anyone throw some light on the same.

Thanks

[kmoore007 · Accepted solution]

Why do you want to use it14 instead of the benefits module? The Benefits module should be able to handle your situation.

[Former Member · Accepted solution]

The client doesnot want to implement Benefits. They want to maintain all deductions through IT 0014.Please advise.

Thanks.

[kmoore007 · Accepted solution]

There are some maximums that go along with the 401k plan which the benefits module monitors automatically, so you could get into some legal issues if your plan is not implemented correctly. Just a thought.

[Former Member · Accepted solution]

Hi All

I have been asked to write a RULE using Wage Types from IT 0014 so that the % calculation can be done. Please advise. This is urgent !!

Thanks and regards

Ron

[Former Member · Accepted solution]

Hi there payroll novice,

We do have Benefits implemented and control 401-K deductions through plans that have been configured to do what we want them to do. In the near future, due to circumstances over which we have no control, we will be required to set up a limited portion of the employee population with an IT 0014 deduction for a certain 401-K Savings Plan. Just wondering how your methodology worked out for you....

Thanks,

Myron

[Former Member]

Writing rule is easy.

Just give the proper calculation part.

I'll send U the exact coding.