Maximum Employee Contribution Amount

Specify the domestic currency amount of each employee's annual retirement plan contribution.

If both the Max Employee Contribution % and the Max Employee Contribution $ fields contain a value other than zero, the maximum contribution amount is the lesser of the two calculated contribution values for each employee.

If either the Max Employee Contribution % or the Max Employee Contribution $ field contains a value while the other employee contribution field contains a zero, the maximum contribution amount is based on the field containing the value.

If both the Max Employee Contribution $ and the Max Employee Contribution % fields are equal to zero, then no retirement plan D&E Code amounts are calculated when you compute the payroll.