Updating fed limit "N" contribution limits

Use Employee Year-End Parameters (PR11.1) to specify contribution limits for employees who contribute on an after tax basis after the limit is met. Use USERRA Year-End Parameters (PR11.2) for reporting current year USERRA amounts in previous years. Defining USERRA amounts

The contribution limits are used for employees who have continued their contributions to a retirement plan after reaching the contribution limit. If the employee has contributed to a pretax retirement plan (401k or 403b) along with a Roth plan (Roth 401k or Roth 403b), then specify the amount to be reported in Box 12 Code D, E, AA, and BB. For example, during 2008 an employee has an annual salary of $100,000.00 and has contributed 10% to 401k ($10,000.00) and 10% to Roth 401k ($10,000.00). The contribution limit for 2008 is $15,5000. Use PR11.1 to identify the portion of the 401k and Roth 401k that was taken up to the contribution limit. For Data Item Fed Limit "N" 401k Pretax Amount, specify $7,750.00 and for Data Item 401k Roth Amount, specify $7,750.00. (If the employee only contributed 401k, then specify $15,500.00 for Data Item 401k Pretax Amount).