# Calculating a tiered 401k Match

1. ## Calculating a tiered 401k Match

Hello,

I need to create a formula that will calculate a tiered 401k match based
upon the amount being contributed.

The match formula is 100% on the first 3% of an employee's contribution, and
50% on the next 2% contributed.

The columns I have are 1) Salary, 2)Percent contributed.

Any and all help is greatly appreciated.

2. ## Re: Calculating a tiered 401k Match

One way:

A1: Salary
B1: % contributed
C1: =(MIN(B1,3%)/2 + MIN(B1,5%)/2) * A1

In article <D6E0A010-047A-4448-B95D-ACA0910FA8A6@microsoft.com>,
JK <JK@discussions.microsoft.com> wrote:

> Hello,
>
> I need to create a formula that will calculate a tiered 401k match based
> upon the amount being contributed.
>
> The match formula is 100% on the first 3% of an employee's contribution, and
> 50% on the next 2% contributed.
>
> The columns I have are 1) Salary, 2)Percent contributed.
>
> Any and all help is greatly appreciated.

3. ## Re: Calculating a tiered 401k Match

Thanks JE,

But, when I input that formula it appears to simply give me 4% of the salary
regardless of the percentage column. Any thoughts? Thanks!

"JE McGimpsey" wrote:

> One way:
>
> A1: Salary
> B1: % contributed
> C1: =(MIN(B1,3%)/2 + MIN(B1,5%)/2) * A1
>
>
> In article <D6E0A010-047A-4448-B95D-ACA0910FA8A6@microsoft.com>,
> JK <JK@discussions.microsoft.com> wrote:
>
> > Hello,
> >
> > I need to create a formula that will calculate a tiered 401k match based
> > upon the amount being contributed.
> >
> > The match formula is 100% on the first 3% of an employee's contribution, and
> > 50% on the next 2% contributed.
> >
> > The columns I have are 1) Salary, 2)Percent contributed.
> >
> > Any and all help is greatly appreciated.

>

4. ## Re: Calculating a tiered 401k Match

Did you fill in your percentages in column B?

Here's my results:

A B C
1 100 0% 0.00
2 100 1% 1.00
3 100 2% 2.00
4 100 3% 3.00
5 100 3.2% 3.10
6 100 4% 3.50
7 100 5% 4.00
6 100 6% 4.00

In article <824C5187-C30F-4D6C-83B7-28D16CA15F76@microsoft.com>,
JK <JK@discussions.microsoft.com> wrote:

> Any thoughts?

5. ## Re: Calculating a tiered 401k Match

Thanks, I had the formatting wrong. This is great, I appreciate your help!

"JE McGimpsey" wrote:

> Did you fill in your percentages in column B?
>
> Here's my results:
>
> A B C
> 1 100 0% 0.00
> 2 100 1% 1.00
> 3 100 2% 2.00
> 4 100 3% 3.00
> 5 100 3.2% 3.10
> 6 100 4% 3.50
> 7 100 5% 4.00
> 6 100 6% 4.00
>
>
> In article <824C5187-C30F-4D6C-83B7-28D16CA15F76@microsoft.com>,
> JK <JK@discussions.microsoft.com> wrote:
>
> > Any thoughts?

>

6. ## Re: Calculating a tiered 401k Match

formula for 33% of deferrals up to 6% of compensation

7. ## Re: Calculating a tiered 401k Match

Welcome to the forum.

We are happy to help, however whilst you feel your request is similar to this thread, experience has shown that things soon get confusing when answers refer to particular cells/ranges/sheets which are unique to your post and not relevant to the original.

If you are not familiar with how to start a new thread see the FAQ: How to start a new thread

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