Sage HRMS - NA Ideas Portal
In Savings Plans, we have an option in Premium to tell the employer match to Not calculate from plan rules. However, unlike the employee side, it doesn't open up the field so we can correct the employer match percentage that is calculating incorrectly due to the Savings Plan Groups not calculating correctly across both Traditional and Roth plans. The Savings Plan Group does not take the employee percentage from all plans in the group, and apply that percentage to the match table. For instance, if the match is dollar for dollar up to 5%, and then $0.50 on the dollar up to 10%, if someone puts in 3% and 3%, their total percent is 6% which is a match of 5.5% maximum. The savings plan group still sees each plan as an independent match calculation, and since the maximum employer match across both plans is 7.5% it calculates the match on each at 3% for a total match of 6% which is incorrect. The whole point to grouping the plans was to total the percentages and apply the match, not apply the match individually as if the group didn't exist.
With the scheduler now in place, perhaps customers can schedule the Update Benefits process daily to capture these updates that are needed.
I am closing this one for now, but if you feel it still needs further review, please re-enter the request.
It appears that this is fixed in the 2023 Quarter 3 update. However, you have to run update benefits for it to fix the screen. Entering a second 401k deduction to the screen does NOT invoke update benefits, which uses the Savings Plan Group settings. To run update benefits, you can either make a change to Current pay and click apply, or run the entire update benefits process from the employees > processes menu.
An easier math situation: Maximum employer match is 5%, and the match is dollar for dollar up to 5%. Employee does both traditional and roth, both at 4% contribution. Even with the savings group, the match is set at 4% on both plans for a total match of 8% which is not correct. The savings group applies the maximum match on each individual plan, not across all plans like it should. However, if an employee does 6% contribution, it will calculate correctly and put the 5% match on one of the plans.