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Help! 401k match formula

  1. #1
    JK
    Guest

    Help! 401k match formula

    I am newer to Excel.

    I need to create a formula that calculates an employer match and can be
    modified to illustrate different employer matching amounts. It will need to
    recognize what an employee is contributing, and match the appropriate amount
    without going over.

    I have two data columns, salary and percentage of salary employee is
    deferring.

  2. #2

    Re: Help! 401k match formula

    Step One i would take would be to name your columns using the
    Insert/Name/Define from the main tool bar. I would label them as
    EMPLOYEE, SALARY and DEFER (you will want the defer column formated as
    a %).

    Step Two would be to name a cell outside of the data area as LIMIT.

    Based on the above names, you could put the following formula in the
    next column (name this column (again, using the Insert/Name/Define from
    above) asMatch) for each row in the database:

    =if(DEFER<=LIMIT,DEFER,LIMIT)

    If you want the spreadsheet to then calculate the match in the next
    column, you would use the formula:
    =Salary*Match (this column you may want to name as USD_Match).

    HTH

    Chris Rogers


  3. #3
    Chris Rogers
    Guest

    Re: Help! 401k match formula

    LIMIT is the amount your company is matching up to.


  4. #4
    JK
    Guest

    Re: Help! 401k match formula

    Thank you Chris!!!

    "[email protected]" wrote:

    > Step One i would take would be to name your columns using the
    > Insert/Name/Define from the main tool bar. I would label them as
    > EMPLOYEE, SALARY and DEFER (you will want the defer column formated as
    > a %).
    >
    > Step Two would be to name a cell outside of the data area as LIMIT.
    >
    > Based on the above names, you could put the following formula in the
    > next column (name this column (again, using the Insert/Name/Define from
    > above) asMatch) for each row in the database:
    >
    > =if(DEFER<=LIMIT,DEFER,LIMIT)
    >
    > If you want the spreadsheet to then calculate the match in the next
    > column, you would use the formula:
    > =Salary*Match (this column you may want to name as USD_Match).
    >
    > HTH
    >
    > Chris Rogers
    >
    >


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