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How are your clients handling employer's contribut

Jeff Schwenk

Jeff Schwenk07-02-2012 07:26

Beth Bowers

Beth Bowers07-03-2012 07:07

Wayne Schulz

Wayne Schulz07-03-2012 07:56

  • 1.  How are your clients handling employer's contribut

    Posted 07-02-2012 07:20
    How are your clients handling employer's contributions to 401K where there is a cap? For example, employer contributes 25% of 401K up to 6% of gross. Employee has 100.00 fixed amount of 401K each week. If they work few hours, that is more than 6%. If they work a full 40, it's less. Or employee has 8% 401K. Can't just use the std 25% of 401K because of the 6% cap.


  • 2.  RE: How are your clients handling employer's contribut

    Posted 07-02-2012 07:26
    Crystal?


  • 3.  RE: How are your clients handling employer's contribut

    Posted 07-02-2012 07:27
    I don't think MAS payroll can handle the dual rule. It can be either 25% of employee's contribution or 6% of gross. There is no mechanism in MAS payroll to have it calculate the or and take then lesser of.


  • 4.  RE: How are your clients handling employer's contribut

    Posted 07-02-2012 07:31
    Myron, how is the basement? Did you give out any drywalling or carpeting merit badges to the troop?


  • 5.  RE: How are your clients handling employer's contribut

    Posted 07-02-2012 07:32
    So no one has a snazzy way, right? This client has like 3000 pay checks each week - so putting the employer's contribution on the check is probably out of the question if they have to manually make changes. Instead, a Crystal report to tell the employer what to contribute and a manual entry at year end so it prints on the W2. Yes?


  • 6.  RE: How are your clients handling employer's contribut

    Posted 07-02-2012 07:34
    What version of MAS? Anything in the v4.5 release that would work here?


  • 7.  RE: How are your clients handling employer's contribut

    Posted 07-02-2012 07:35
    You could setup a Crystal Report to run after the audit report that identifies 401k calculations need manual override.


  • 8.  RE: How are your clients handling employer's contribut

    Posted 07-02-2012 07:56
    Carpet is out and the lower level (sounds better than a basement) and it has dried. I did loose the sheet rock. There is no merit badge for carpeting or dry-wall.


  • 9.  RE: How are your clients handling employer's contribut

    Posted 07-02-2012 07:57
    The 4.5 comes closer, but stil nothing about limits. @MyronStevenson - thought about that, but it could be a ton of changes. These are all contract workers, so hours vary wildly.


  • 10.  RE: How are your clients handling employer's contribut

    Posted 07-02-2012 08:09
    Here's another approach. ERISA rules require that contributions are due the 15th of the month following the month they are withheld or earned. At the end of each month run a calcuation of the employer's 401k contribution. Don't have MAS calcuate anyting relating to the employer portion. Employer contributions are not reported on the W-2 so year end reporting should be ok. You do have to address how employees are informed of the employer contribution for the prior month. You could probably design a Crystal Report to do the calculation and export the data required to upload the contributions.


  • 11.  RE: How are your clients handling employer's contribut

    Posted 07-02-2012 08:20
    Perhaps it's time to consider Sage HRMS (Abra) payroll? At 3k employees there are probably good value to get to out of the benefits mgt piece, too.


  • 12.  RE: How are your clients handling employer's contribut

    Posted 07-02-2012 08:37
    @MyronStevenson - just did the report for them and they're good with it. I like to see the employer's share print on a check, but oh well!


  • 13.  RE: How are your clients handling employer's contribut

    Posted 07-02-2012 13:31
    @myronStevenson - Might be time to suggest a new badge program to the BSA......


  • 14.  RE: How are your clients handling employer's contribut

    Posted 07-03-2012 02:24
    @BethBowers any chance you could attach the rpt here? I am pulling off many of our questions that are general and appear like people may run into them again and placing them into Evernote so we can search them and have them formatted better (I find Socialcast search to be difficult).


  • 15.  RE: How are your clients handling employer's contribut

    Posted 07-03-2012 07:07
      |   view attached
    Here you go

    Attachment(s)

    rpt
    EmployerShareCUSTOM.rpt   14 KB 1 version


  • 16.  RE: How are your clients handling employer's contribut

    Posted 07-03-2012 07:56
    Thanks!