403 (b) Plan 15 Years-of-Service Rule

The contribution limits for 403 (b) plans are the same as for 401 (k) plan, unless the 15 Years-of-Service rule applies.

To invoke this rule for eligibile employees, you must enable the Adjusted Deferred Comp Limit calculation component.

1. From My Client Groups, click Payroll.

2. Click Calculation Cards.

3. Search for and select the person.

4. Open their Benefits and Pensions card for editing.

5. Select their 403 (b) plan calculation component.

6. Click Enterable Calculation Values on Calculation Cards, and click Create.

7. Add the Adjusted Deferred Comp Limit value, and select Yes.

8. To set a new adjusted deferred compensation limit, add the Override Adjusted Compensation Limit value.

9. Click OK, and save your work.

To enforce this rule for an employee who doesn't meet 15 years-of-service eligibility:

1. From My Client Groups, click Payroll.

2. Click Calculation Cards.

3. Search for and select the person.

4. Open their Benefits and Pensions card for editing.

5. Select their 403 (b) plan calculation component.

6. Click Enterable Calculation Values on Calculation Cards, and click Create.

7. Add the Enforce 15 years of service rule value, and select Yes.

8. Click OK, and save your work.

Note: The Enforce 15 years of service rule value overrides Adjusted Deferred Comp limit. If you set Enforce 15 years of service rule to Yes, the payroll process applies the rule even if Adjusted Deferred Comp Limit is disabled.