Deferred Comp Plan Codes Table

Overview

Deferred Comp Plan Code

Deferred Comp Plan Code

Fields on the Deferred Compensation Plan Codes Table

Deferral Limit Information

Verify that the limits for the Deferral Contributions, Total Contributions, Deferral Compensation, and Max (Employer) Percent Match, comply with the Federal tax guidelines. If not, edit and assign the limits according to Federal guidelines.

For most deferred compensation plans, the limit for Deferral Contributions is determined by regulatory guidelines and changes annually.

For an employer-only pension plan without employee contributions, enter 0.

Note: When a deferred compensation plan is selected on a Deduction Code, the limits from the Deferred Comp Plans Code transfer to all associated Employee Deduction Detail records, and payroll processing updates the adjusted limit per employee.