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Payroll - Employer 401K Match Calculation

  • 1.  Payroll - Employer 401K Match Calculation

    Posted 12-15-2022 17:36
    Customer wants to give employees a 401K match to anyone that contributes to their 401K plan. The match will be 25% of whatever the employee contributes, up to 4% of the Gross pay. For example, if employee makes 3000 (gross) a week and contributes $50.00 to his 401K, the match will be $12.50 (50 * 25%) and the max for that week would have been 120.00 (3000 * 4%)
    In Deduction Maintenance, there is a deduction calculation method of "Percentage of Deduction" but that only gets me 1/2 way there. How do i cap it at Percentage of Gross pay as well?

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    Kenny Daniel
    TechnoClarity, Inc.
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