Benefits Annual Limits (BN12.1)
Use Benefits Annual Limits (BN12.1) to define the maximum compensation and maximum annual limits for a calendar year. The Benefits application uses these limits for discrimination testing, while the Payroll application uses these limits to determine when contributions for defined contribution plans should stop.
More Information
The current annual limits for taxation for 401(k), 403(b), and 457 plans are regulated by tax tables maintained by BSI (Business Software, Inc.) used with the Lawson Payroll application. The Federal Limit field in HR00.1 (Company) determines what the Payroll application should do when a limit has been reached.