Okay - I'm fried and this one's confusing the heck out of me. It's for determining the company matching amount of an employees 401K defferal amount.
The legalese says this about calculating the company match:
(Employer shall match 100% of each participants deferral contribution, not exceeding 3% of the participants compensation, plus 50% of each participants deferral contributions in excess of 3%, but not in excess of 5% of the participants compensation).
So, I don't easily have access to the participants compensation number, but I do have the participants deferral percentage and deferral amount.
Please help me calculate this so I can save my job and my sanity.
The legalese says this about calculating the company match:
(Employer shall match 100% of each participants deferral contribution, not exceeding 3% of the participants compensation, plus 50% of each participants deferral contributions in excess of 3%, but not in excess of 5% of the participants compensation).
So, I don't easily have access to the participants compensation number, but I do have the participants deferral percentage and deferral amount.
Please help me calculate this so I can save my job and my sanity.
