Hi -
We decided for 2018 that we would start showing the company match on DC plans on our biweekly employee checks/vouchers. So, we set it all up nicely except we missed the maximum dollar amount on the company match on BN19.3. And, therefore, we missed the Balance Type & Balance Amount populating on the PR14. We also found several instances of the same PR14 record for the match (same effective date, deduction, and no end date). We discovered all of this when we had some bonuses paid out at the beginning of March and people went over the max company match...or didn't have the company match made at all. So, we went for four pay periods before we noticed we had a problem.
We've attempted to fix but ended up doing a TON of manual work to ensure yesterday's payroll processing calculated everyone correctly. Needless to say, we don't want to do that again so I'm reaching out for help.
Since we have a company match on both the pre-tax deferral and the post-tax deferral, we are struggling with how to track the maximum company match amount ($11,000). For example, if I contribute 10% pre-tax and 1% post-tax, my PR14 record has a company match row for both enrollments. We initially had $11,000 populate on both of the match rows, but that allowed the match to go over $11,000 in total. We then split the $11,000 between the two enrollments, based on % of total, and that isn't working either, as it will either ignore the post-tax match or it simply doesn't do the math correctly.
We are finding that changes made to BN32.1 (and BN31.2) are not making the appropriate changes on PR14. For example, if someone's deferral percent changes, a new row is inserted on BN32.1 with the new effective date and new %. A new row is added to PR14 for the company match deduction, but the prior row is not end-dated, and the Balance Amount isn't populated. There's just some weird stuff going on that doesn't make sense.
So, all that to ask...does anyone else out in the Lawson S3 world have DC company match set up (for both pre- and post-tax elections) where it works correctly? If so, can we chat?
Thanks.
Ruth Holladay
We were having a lot of issues with descending balances and missing end dates on several of our plans, not specifically DC plans, and worked with support in taking CTP 117337 which addressed all of our issues with 403b, our most popular plan. We have always had to watch our DC plan closely and will be revisiting extensive testing with this plan in the coming months to see if we can help reduce the amount of monitoring when there are changes/bonuses, etc. and see if the CTP has helped with this in addition.