Deduction model &1 could not be assigned (RP_CHECK_PAY_PERIODS)

What causes this issue?

An error occurred during the processing of function module
RP_CHECK_PAY_PERIOD. The deduction model &V1&, which is linked to the
currently processed plan, could not be evaluated. Possible reasons are
that this deduction model is not defined in the table T549W or that is
maintained incorrectly in the tables T549X and T549Z.

System Response

Payroll processing terminated for the current employee, since
deductions cannot be determined for the current benefit plan.

How to fix this error?

Make sure, that the deduction model &V1& is defined in the deduction
model table T549W. Every deduction model assigned to a benefit plan in
T74HE must be defined in this table.
If the model is already defined in the table T549W, make sure that it
is maintained correctly in the tables T549X and T549Z.
If the model is correctly maintained in the tables T549X and T549Z, a
more detailed error analysis is required for the function module
RP_CHECK_PAY_PERIOD.

Procedure for System Administrators

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

Error message extract from SAP system. Copyright SAP SE.