Costpoint Online Help

Group Limits by Age Subtask

Use this subtask to define the group limits for different age ranges.

This subtask is enabled when you select Age and Date Range from the Group Limits by options. By selecting it, you may set up different group limits for different age ranges. This may be used for catch-up limits for 401K and other retirement deductions. If the employee's birthday is later in the year, they will still be eligible for the date range. If you do not set up a range for all employee ages, the employees that do not fall into a range will not have a group limit for their deductions.

Setup Example

Age Ranges:The effective date ranges are from 1/1/2025 to 12/31/2025. At the start of the year, the employee is 49 and they turn 50 on 12/31/2025. They will fall into the 50-59 group since they turn 50 within the effective date range.

Scenario: You wish to set 401K and catch-up deduction ranges for employees based on their ages for a particular calendar year.

You will need to:
  1. Select the Age and Date Range from the Group Limits by options on the main screen.
  2. Enter the year's start and end dates in the Effective Dates subtask.
  3. Click the Group Limits by Age subtask link and enter the age ranges and the limit for each age.
If the employee's age will fall within the age range during the dates set in the Effective Dates subtask record, the deductions linked to the deduction group will not be withheld once the Group Limit has been reached.
Table 1. Sample Group Limits by Age Subtask Setup
From Age * To Age * Group Limit
0 49 23,500
50 59 31,000
60 63 34,750
64 99 31,000

Contents

Field Description
From Age

After you click the New Record button on the toolbar, enter up to three digits that identify the ageat which to start the range. This must be in whole numbers. In the first row, this field must be 0. Subsequent rows must equal the previous row's To Age + one year. For example, for the age range 0 - 19, you enter 0 in this field on the first row. On the second row, this field will be 20. This is a required field.

To Age

Enter up to three digits to identify the age at which the range ends. This must be in whole numbers. This value must be equal to or greater than the value in the From Age field. For example, for the age range 0 - 19, you enter 19 in this field on the first row. This is a required field.

Group Limit

Enter the group limit for the age range.