HCM Benefits Savings Management
Sharing our journey and findings from Oracle's Image 48 enhancements on Age Limit grid on the Limit Table on the Limit Types.
Image 48 enhancement on Age Limit Tables and 403b is not stopping at the deferred deduction limit.
Below are findings from PeopleSoft Update from Image 48 enhancements to Secure 2.0 Act. Patch 35345717
Image 48 enhancements:
The enhancement from Image 48 added Age Limit grid on the Limit Table on the following Limit Types. 402g, 457b, 415c for 403b, and 415c
Modified the Savings Plan Age-50 Extensions Run Control by adding 415c Limit and 415c for 403c plans Limit Types
Image 50 Bug fix - Oracle’s patch to fix the bug from Image 48
Bug #36420812 – Age-Related Expansion Amount for 415c for 403b Plans not Working
Before knowing there was a bug, we tested by just adding 415c Limit of 403b (415z) plans on the Savings Age Catch Up Extension. Our test results allowed the 403b to stop the deductions at the deduction limit but found that 415z Limit also extends to 415c Limit.
We logged a ticket with Oracle and they confirmed that this is a bug and submitted it for a fix. No ETA on when the bug fix will be released.
Bug #37301313 – Extension of 415z Limit also Extends to 415c Limit