jnd121
Member
Our company's 401k policy has a multi-tiered match. The 401k match for an employee is not calculating correctly on a pay where an employee reaches their max (i.e. %2415,500). First let me give some background on our 401k. The company matches 100% of the contribution for the first 3% and 50% on the next 2%. In JDE, HR currently has a plan setup in the plan master that has a plan option for every possible contribution amount (e.g. 1 - 75% for PT) and contains the deduction for the contribution and a plan for the match. The match DBA is based off of the contribution DBA, not gross pay. For example, if I were contributing 5% to my 401k the match DBA would be 80% of my contribution. The problem is that when I reach my limit, I am not contributing a full 5%. Let's say I only can only contribute 3% to reach my limit. In this case, the system is still matching 80% when it should match 100% according to our company's rules. I am sure other companies have multi-tiered matching and would like to know what you do. I hope I explained this well enough as I am not a HR expert (I'm in IT!)
Thanks,
Joe
Thanks,
Joe