Roth 401K Catch-Up Report (U.S.)

Use the Roth 401K Catch-Up Report to determine which employees are subject to the catch-up contribution rule that requires use of a post-tax Roth.

Find this report at Payroll > Reports > Roth 401K Catch-Up Report.

This report applies only if both are true:
  • Your company's workplace retirement plan allows catch-up contributions.
  • Your prior year payroll data exists in Spectrum.

    If this is your first year in the application, you will need to rely on the W-2 data in your previous system to determine which employees hit the earnings threshold.

This report identifies employees who satisfy both these eligibility criteria and must therefore use a post-tax Roth IRA as their vehicle for catch-up contributions:
  • The employee will reach age 50 or older in the current year.
    Important:

    If a birth date is missing from the employee's record

    Any employee that meets the income threshold and whose record in the Employee Personal Information screen does not have a birth date will be included on the report. Of these, you will need to either enter a birth date and run the report again, or use some other way to determine which employees are ages 50 and above.

  • The employee's prior-year Box 3 Social Security wages are equal to or exceed the federal threshold, which the IRS adjusts annually.
    Important:

    If an employee is new to your organization

    Any new employee for which the organization doesn't have a prior year's W-2 to review is treated as if their wages were under the threshold. This applies even when it is expected that the employee's wages will surpass the threshold in the current year.

Field Descriptions

FieldDescription
Entity
Note: Displays only if entities are enabled.
If you want an entity to appear on the report in place of the company name, choose one from the dropdown.
Selections
Employee codeChoose one:
  • Press Enter to include all employees.
  • Enter a specific employee code.
  • Double-click this field to view and select from a list of employees.
Employee statusChoose one:
  • Press Enter to include all statuses.
  • Enter a specific status.
  • Double-click this field to view and select from the list of statuses.
Current calendar year Enter the current year to run the report for the prior year.
Note: The report analyzes prior-year W-2 information, so the W-2s for the year prior to the one you enter must already be processed and saved before you run this report for the current year.
Earnings threshold Enter the federal threshold for your chosen year.
Sort by - choose how to sort the report results.
BirthdateUseful for grouping eligible employees.
Employee codeUse to make data entry easier.