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I have a client that needs to calculate the Deferred Comp as a percentage of wages after the 401K deduction.
Using the percent of Net Earnings is not working because the 401K is tax sheltered and the Deferred Comp is not.
Considering deduction sequencing but i don't believe that will get the desired calculation
Any ideas?
Hey Brenda, it is Terry, nice to hear from you.
This is a long shot, but we could try this and see if it works.
With garnishment setup, there is an option for earnings code where you could say in the earnings setup to not include deduction, in your case 401K
Then you would set this up Deferred Comp as a percent of the earnings code you set up above.
Try it and see if it would work in TEST first, ping me if you have questions or need more detail. We have done this with certain taxes and it seems to work well as a workaround even tho it is not a garnishment.
Thanks
Terry Heley
Microsoft
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