myPay Solutions Direct handles cafeteria plan deductions, retirement plan deductions, and company matching amounts and automatically adjusts the annual limits for the various retirement plans.

When employees reach age 50, they are eligible to make increased (catch-up) contributions, and so as long as a birth date has been entered for an employee in the Birth date field in the Personal tab in the Setup > Employees screen before payroll checks have been processed, the application will automatically increase their annual contribution limit.

Excluding employees from catch-up limit provisions

Some plans do not offer catch-up limits and some employees choose not to take advantage of catch-up limits or the opportunity to make additional contributions past the normal annual limit. The application provides a way to specify that increased catch-up limits should not apply to an employee, regardless of their age.

You can specify that the catch-up limit should not be applied to a deduction item for individual employees by marking the Do not apply catch-up limit checkbox in the Limits section of the Main tab of the Employee Payroll Item Settings dialog (accessed by clicking the Ellipsis button next to the deduction item in the Deductions grid of the Payroll Items tab of the Setup > Employees screen).

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