Skip to main content
Documentation
Documentation
Administrator Guide
Last Updated: 2023-06-23
Reference: Related Calculations for Benefit Earnings and Deductions (USA)

Reference: Related Calculations for Benefit Earnings and Deductions (USA)

Elective Deferral Limits Related Calculations
Workday delivers these related calculations you can use to define elective deferral limits in earnings and deductions:
Related Calculation
Description
Elective Deferral Annual Catch-Up Limit for 401(k), 403(b), 457(b) and 408(k) SEP Plans
A Workday owned lookup calculation. Returns a numeric value for the annual catch-up contribution limit for SEP plans for the year:
  • 401k
  • 403b
  • 457b
  • 408k
Elective Deferral Annual Limit for 401(k), 403(b), 457(b) and 408(k) SEP Plans
A Workday owned lookup calculation that returns a numeric value for the annual contribution limit for SEP plans for the year:
  • 401k
  • 403b
  • 457b
  • 408k
Doesn't include the catch-up contribution limit.
401k Annual Limit (including catch-up if worker over 50 years of age)
A Workday owned conditional calculation that returns a numeric value for the 401k annual contribution limit (including catch-up limit if applicable) for the year.
Section 415 Limits Related Calculations
Workday delivers these related calculations you can use to define Section 415 limits in earnings and deductions:
Related Calculation
Description
Section 415 eligible wage limit
A Workday owned lookup calculation. Returns a numeric value for the Section 415 eligible wage limit for the year.
Health Savings Accounts Limits Related Calculations
Workday delivers these related calculations you can use to define Health Savings Account (HSA) limits in earnings and deductions:
Related Calculation
Description
Benefits: HSA Maximum Annual Contribution Limit (without Catch-UP Limit)
A Workday owned conditional calculation. Returns the minimum of the HSA plan contribution maximum and the IRS limit, if there's a contribution maximum on the HSA benefit plan definition. If no contribution maximum exists on the HSA plan, Workday uses the IRS limit.
Doesn't include the catch-up contribution limit.
There are 2 lookup tables based on coverage (employee or family) for the IRS limit amount. To look up the rate, use the year of the payment date.
Workday uses family limit values if you’re bringing deductions directly into payroll using payroll input (instead of tracking the HSA benefit plan in Workday). If you need employee limit values, create new calculations to accommodate the limits.
Benefits: HSA Catch-Up Maximum Annual Contribution Limit (if workers is >= age 55)
A Workday owned arithmetic calculation. Returns the sum of the
Benefits: HSA Maximum Annual Contribution Limit (without Catch-Up Limit)
 and
Benefits: HSA Catch-Up Maximum Annual Contribution Limit (if worker is >= age 55)
.
The assumption is that there's no contribution maximum on the HSA benefit plan definition for the catch-up limit, so Workday uses the IRS Limit for catch-up contributions.
Workday uses family limit values if you’re bringing deductions directly into payroll using payroll input (instead of tracking the HSA benefit plan in Workday). If you need employee limit values, create new calculations to accommodate the limits.