Setting Up a Retirement Plan Calculation Table
Access the Retirement Plan Calculation Table Revisions form.
- Retirement Plan Code
Enter a numeric value from the retirement table code that specifies which table the system accesses in the Payroll Generic Tables table (F069026).
- Annual Limit
Enter the maximum amount that can be withheld or accrued in a year for a deduction, benefit, or accrual. This amount is expressed in dollars for deductions and benefits. For accruals, this amount is expressed in hours.
- Retirement Table Method
Enter a code that specifies the table method that the system uses for DBA calculation.
- ITD Limit
Enter the maximum amount in dollars or hours that an accrual can have at a time.
- Employee Contribution Lower Range
Enter the lower or minimum amount to be compared.
The lower range of the employee contribution can be either a percentage (%), or a dollar ($) amount depending on the value of the Retirement Table Method field. For table method R1 and R3, the lower range amount is represented as %. For table method R2 and R4, the lower range amount is represented as $.
- Employee Contribution Upper Range
Enter the upper or maximum amount to be compared.
The upper range of the employee contribution can be either a percentage (%), or a dollar ($) amount depending on the value of the Retirement Table Method field. For table method R1 and R3, the upper range amount is represented as %. For table method R2 and R4, the upper range amount is represented as $.
- Matching Contribution
Enter the amount or rate to be used in the calculation of a DBA.
This field is used when the method of calculation specifies 1, 2, 3, 4, 5, or 6, and therefore, a specific basis table is being retrieved for the ultimate calculation of the transaction.
The matching contribution of the employee contribution can be either a percentage (%), or a dollar ($) amount depending on the value of the Retirement Table Method field. For table method R1 and R2, the matching contribution amount is represented as %. For table method R3 and R4, the matching contribution amount is represented as $.