Retirement Deduction Types Without Applied Limits

Namely does not automatically apply annual deduction limits for certain IRS Retirement deduction types. If you utilize any of the below deduction types at the Company Level, you must apply any annual deduction limits manually. 

  • 401(k) After Tax

  • 403(b) Roth

  • 403(b) Mandatory Participation

  • 409A- Non-qualified deferred comp

  • 457(b) Roth- No Catchup

  • 457(b) Roth-With Catchup

  • 501(c)(18)(D)

  • NQ Deferred Comp-403(b)

  • NQ deferred Comp-Guaranteed

  • NQDC-SERP (401K taxation)

  • Roth IRA

  • SEP-408(k)

  • Special 457(b) Catchup

  • 401(a) (pre-tax federal)

  • 401(a) (post-tax federal)

To apply deduction limits, follow the steps below.

  1. Go to Namely Payroll > Company > Deductions.

  2. If you are updating an existing deduction, find the deduction in the list and select the three dots on the right. If you are adding a new deduction, select Add Deduction.

  3. Place the limit, as outlined by your plan document, in the Employer Cost section of the Deduction setup page, in the Maximum per Year amount field.

    • If you do not know your limit, consult your provider.