Defining Override and Deferral Limits

To define an employee's retirement plan deferral calculation limit amounts for a tax year, use the Employee Overrides/Deferrals panel in the Retirement Plan Enrollment form

You might override the limit if you bring on a client where the employees were already contributing to a plan. For example, assume that an employee already contributed $6,000. Instead of taking the full $18,000, enter the $12,000 remaining for the current year.

To define override and deferral limits:

1.

Open the Employee Overrides/Deferrals panel.

Use this option	To define this
Tax Year	The Tax Year associated with the retirement plan deferral limit override for this employee.
Deferral Limit	The Deferral Limit override amount for this employee.
Catch-Up Limit	The Catch-Up Limit override amount for this employee.

2.

Click Save.