Reducing 401(k) Limits for Puerto Rico

Puerto Rico has a lower 401(k) limit than the IRC limit. If you have employees in Puerto Rico, you must override the default 401(k) limit at the employee level.

arrow icon   To override the 401(k) limit:

Perform the following for each Puerto Rican employee:

  1. Open the Element Entries window.

  2. Select the assigned 401(k) element, and click Entry Values.

  3. Specify a value of $8000 as the 401(k) limit.

  4. Save your work.