BSI Group Codes

Currently we have two BSI Group Codes for the catch up portion of HSA EE and HSA Family. Will be adding a 401K plan soon so also need to have a BSI Group Code for that catch up. Our benefits department supports HSA but payroll will support the 401k.

Are there any employers that have one group code to cover both HSA and 401K catch up? The BSI Group code would then be populated for any employee electing catch up for either HSA or 401k. I realize the ages are different but the contribution limits will be controlled at the employee level on PR14.1 so it seems like it should work. I'm trying to make it easy for Benefits and Payroll to understand. The group code would automatically be populated for any employee 50 or over regardless if they have elected catch up for anything.

Any thoughts?

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Comments

sriman-shivakoti

You can only assign one code on the employee record. We have OV50 codes that contain DC Catchups only and our OV55 codes have both HSA and DC catchups.

plancor

The following are our BSI groups to handle HSAs and 457s, catch up rules for those over 50 (457CATCH) and those over 55 (HSACATCH), and for those ages and within a specific number of years of retirement (RETCATCH and RETCATCHHSA). I'd love to know if there's a better way.

BSI Group	Authority	Tax Type	Plan / Earning	Start Date	End Date	EE Max
457CATCH	BSI00000000 - FEDERAL	001 - WITHHOLDING TAX	BSIP004 - 457	01/01/2018	12/31/2018	24500
457CATCH	BSI00170000 - ILLINOIS	001 - WITHHOLDING TAX	BSIP004 - 457	01/01/2018	12/31/2018	24500

HSACATCH	BSI00000000 - FEDERAL	001 - WITHHOLDING TAX	BSIP004 - 457	01/01/2018	12/31/2018	24500
HSACATCH	BSI00000000 - FEDERAL	001 - WITHHOLDING TAX	BSIP020 - HSA SELF-ONLY SEC 125	01/01/2018	12/31/2018	4450
HSACATCH	BSI00000000 - FEDERAL	001 - WITHHOLDING TAX	BSIP021 - HSA FAMILY SEC 125	01/01/2018	12/31/2018	7900
HSACATCH	BSI00170000 - ILLINOIS	001 - WITHHOLDING TAX	BSIP004 - 457	01/01/2018	12/31/2018	24500
HSACATCH	BSI00170000 - ILLINOIS	001 - WITHHOLDING TAX	BSIP020 - HSA SELF-ONLY SEC 125	01/01/2018	12/31/2018	4450
HSACATCH	BSI00170000 - ILLINOIS	001 - WITHHOLDING TAX	BSIP021 - HSA FAMILY SEC 125	01/01/2018	12/31/2018	7900

RETCATCH	BSI00000000 - FEDERAL	001 - WITHHOLDING TAX	BSIP004 - 457	01/01/2018	12/31/2018	37000
RETCATCH	BSI00170000 - ILLINOIS	001 - WITHHOLDING TAX	BSIP004 - 457	01/01/2018	12/31/2018	37000

RETCATCHHSA	BSI00000000 - FEDERAL	001 - WITHHOLDING TAX	BSIP004 - 457	01/01/2018	12/31/2018	37000
RETCATCHHSA	BSI00000000 - FEDERAL	001 - WITHHOLDING TAX	BSIP020 - HSA SELF-ONLY SEC 125	01/01/2018	12/31/2018	4450
RETCATCHHSA	BSI00000000 - FEDERAL	001 - WITHHOLDING TAX	BSIP021 - HSA FAMILY SEC 125	01/01/2018	12/31/2018	7900
RETCATCHHSA	BSI00170000 - ILLINOIS	001 - WITHHOLDING TAX	BSIP004 - 457	01/01/2018	12/31/2018	37000
RETCATCHHSA	BSI00170000 - ILLINOIS	001 - WITHHOLDING TAX	BSIP020 - HSA SELF-ONLY SEC 125	01/01/2018	12/31/2018	4450
RETCATCHHSA	BSI00170000 - ILLINOIS	001 - WITHHOLDING TAX	BSIP021 - HSA FAMILY SEC 125	01/01/2017	12/31/2018	7900

unknown

We do it Margie's way also.

leathel-grody

Do you enroll & administer the deductions in-house using Lawson Benefits? Our Third Party Administrator ensures an EE is eligible for HSA catch up before they even give us the catchup amount as a flat amount deduction. I'm thinking if an EE is 52 therefore eligible for 401K catchup but not HSA catchup, the descending balance deduction on PR14.1 will stop both the HSA and 401K deductions at the correct amounts. Yes, there is room for error if our TPA makes a mistake on the descending balance but I'm trying to limit the amount of Payment Overrides on BSI.

unknown

If your TPA is responsible for keeping track of the HSA, and is good about sending you the correct amount to put in the employees' descending balance, you should be fine without an HSA override in BSI.

VID029_ICIA_Limitations with Tabbed Inquiries and Provided Workarounds.zip

greg-fahey

That makes a lot more sense to set up the Group Codes by age rather than by plan

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