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401k Employer Match with a limit

  1. #1
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    Question 401k Employer Match with a limit

    I need a formula that calculates the companies matching of 401K contributions. The company will auto enroll everyone at 2% contribution unless they opt out and match $0.25 of every $1.00 up to $500 max per year.

    Lets say I have a participant who made $100,000 and contributed $15,000 to the plan, I'm not sure how to recalc the employer match and cap it at $500.
    Last edited by AliGW; 09-04-2019 at 01:32 AM. Reason: Irrelevant section of title removed: this is a HELP forum!!!

  2. #2
    Forum Moderator AliGW's Avatar
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    Excel 2016 (Win 10 - Work) & 365 Subscription (Win 10 - Home)

    Re: 401k Employer Match with a limit

    Welcome to the forum.

    Will you please attach a small sample Excel workbook? We are not able to work with or manipulate a picture of one and nobody wants to have to recreate your data from scratch.

    1. Make sure that your sample data are REPRESENTATIVE of your real data. The use of unrepresentative data is very frustrating and can lead to long delays in reaching a solution.

    2. Make sure that your desired results are also shown (mock up the results manually).

    3. Make sure that all confidential data is removed or replaced with dummy data first (e.g. names, addresses, E-mails, etc.).

    4. Try to avoid using merged cells as they cause lots of problems.

    Unfortunately the attachment icon doesn't work at the moment (it hasn't worked for years, and despite our repeatedly asking the technical team who own the forum to fix it, they can't be bothered to do so), so to attach an Excel file you have to do the following: just before posting, scroll down to Go Advanced and then scroll down to Manage Attachments. Now follow the instructions at the top of that screen.

    Please pay particular attention to point 2 (above): without an idea of your intended outcomes, it is often very difficult to offer appropriate advice.

    Enthusiastic self-taught user of MS Excel who's always learning!

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