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Formula for Retirement % in graduating levels

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    Formula for Retirement % in graduating levels

    Since I do not understand this formula,I am asking for help. The payroll software has this formula:

    min((d(401K STR)/2),(grosspay*.02))

    What does the "min((d(" mean?

    I can figure out the "401K STR" - that's the traditional contribution by the employee

    I know the "grosspay" is multiplied by the 2%


    I am guessing I have to set up six formulas unless someone know how to combine the following. ??

    If employee contributes 1% of gross pay then the employer match is 1%
    If employee contributes 2% of gross pay then the employer match is 1.5%
    If employee contributes 3% of gross pay then the employer match is 2%
    If employee contributes 4% of gross pay then the employer match is 2.5%
    If employee contributes 5% of gross pay then the employer match is 3%
    If employee contributes 6% of gross pay then the employer match is 3.5%
    And all above % are limited to 3.5%

    Thank you for taking the time to read this. I am over my head for this and appreciate anyone who is knowledgeable to help me.
    GowerGirl

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    Forum Expert shg's Avatar
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    Re: Formula for Retirement % in graduating levels

    What's the actual formula in the cell? It's not what you posted.
    Entia non sunt multiplicanda sine necessitate

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    Re: Formula for Retirement % in graduating levels

    This is the formula in the cell:

    =min((d(401K STR)/2),(grosspay*.02))

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    Forum Expert shg's Avatar
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    Re: Formula for Retirement % in graduating levels

    401K STR is not valid as an argument in a formula. It would have to be enclosed in quotes.

    d is not an Excel function. It could be a user-defined function, but if it is, there's no way to guess what it is.

    min is a native Excel function, but would be capitalized in an actual formula.

    Can you copy the formula from the formula bar and paste it here? Or better, post the workbook with any sensitive data removed.
    Last edited by shg; 02-12-2016 at 05:56 PM.

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    Cool Re: Formula for Retirement % in graduating levels

    What I posted was copied out of the cell in the "ComputerEase" payroll software. I am going to contact the software company.

    Can you give me a formula that I can use in an excel document?

    Like if Gross Income is $50,000. then the amount that is 6% (employee contribution)of gross pay and then another cell that has 3.5% (employer match)?
    And what would the formula be if the employee contribution is over 10% but can the employer mat cannot exceed 3.5%?

    Thank you so much for your time and explanation.

    Have to catch the reply on Monday.

    Gower Girl

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    Forum Expert shg's Avatar
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    Re: Formula for Retirement % in graduating levels

    Row\Col
    A
    B
    C
    1
    Empl
    Match
    2
    0.5%
    0.0%
    B2: =LOOKUP(A2, {0,1,2,3,4,5,6}%, {0,1,1.5,2,2.5,3,3.5}%)
    3
    1.0%
    1.0%
    4
    1.5%
    1.0%
    5
    2.0%
    1.5%
    6
    2.5%
    1.5%
    7
    3.0%
    2.0%
    8
    3.5%
    2.0%
    9
    4.0%
    2.5%
    10
    4.5%
    2.5%
    11
    5.0%
    3.0%
    12
    5.5%
    3.0%
    13
    6.0%
    3.5%
    14
    6.5%
    3.5%
    15
    7.0%
    3.5%

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