401K Options
Written by Brandy Burch
Updated at January 17th, 2025
| Company 401(k) Options Maint | |
|---|---|
| Detail number of Company Match | Number of the detail item defined for company match. |
| Print Company share on stub? | Check if you want the company share of the 401K to print on the check stub. |
| Compute Company Match by: | |
| Pct of 401(k) wages or Dollar match? |
D - Company match is a fixed dollar amount P - Company match is a percentage of employee contributions Y - Year to date amount |
| First... | This table determines company match amounts. For example, in the screen shown above, The first 3% an employee invests will be matched 100%. |
| Pension File Extract Variables |
0=Standard file layout for all companies 1 = TCDRS (Texas County and District Retirement System) 3 = Fidelity Investments 4 = Manulife 6 = LH 7 = mod Manulife 8 = QC 9 = ING 10 = TCDRS EE only 11 = ADP 12 = Wachovia 13 = Now Trac-Wachovia 14 = PCS Capital 15 = MBM Advisors 16 = Regions Bank/Ascensus 17 = CUNA Mutual Group 18 = Unified Trust |
| Vesting Schedule | Defines the vesting schedule as percentage per year. The percentages must add up to 100%. This is currently not used in reporting or calculations. |
401K Examples
Example 1:
Company will match 100% of employee deductions up to 3%.
Employee earnings = $1,000
Employee 401 deduct = 5% or $50
Company Match = 3% or $30
If employee 401K deduct = 2% or $20
Company Match = 2% or $20
If employee 401K deduct = 0
Company Match = 0
Example 2:
The company will match 2% of employee wages, with no deduction required.
Employee earnings = $1,000
Employee 401 deduct = 5% or $50
Company Match = 2% or $20
If employee 401K deduct = 2% or $20
Company Match = 2% or $20
If employee 401K deduct = 0
Company Match = 2% or $20
Example 3:
Dollar Match D Example
Employee earnings = $1,000
Employee 401 deduct = $50
Company Match = $27.50 ($20 @100% + $10 @ 50% + $10 @ 25%)
If employee 401(k) deduct = $20
Company Match = $20
If employee 401(k) deduct = 0
Company Match = 0
Example 4:
The company will match $ of employee wages, with no deduction required.
Employee earnings = $1,000
Employee 401 deduct = $50
Company Match = $20
If employee 401(k) deduct = $20
Company Match = $20
If employee 401(k) deduct = 0
Company Match = $20
TECH TIP!!! If your company match is showing up 0 or less than it should be:
Check the earnings detail: If the company match for 401(k) is based on a percentage of the employee's earnings, then the earnings detail codes must NOT be set to No Effect, or the company portion will not calculate. Set to Base Wage/Hrs.
Check the cycle start screen: The company 401(k) detail must be checked.