| FAQ 895: BENLIMIT and COMPLIMIT--reverts back to an older year |
We've had the update installed and yet when going into an individual plan and updating it to the new year.
The year, although displayed on the screen, is not actually stored along with the compensation cap, just the compensation figure. So, after you save the plan specs and go back to review the comp figure, it looks up the first value in the table that matches the comp cap and that is the year that will display. This is seen when the comp cap or benefit cap have not changed from year to year, it will use as a default the first value of $xxxxxxx.xx that it finds in the list, and that is what is displayed. It should not affect the calculations at all, and the correct year's limit will be populated moving forward when the plan is updated to a new plan year when the limit cap increases and changes.