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457 plan with company match up to a % of employee salary
unknown
I'm building a new 457 plan with a contribution limit and a company match of dollar for dollar up to a specific % of the employee's salary not to exceed an amount. The employee can elect a flat or percent amount. Is it possible to set up a plan with these requirements in Lawson. If yes, how do you set up the plan with the company match up to a % of the employee's salary.
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unknown
You set your match limits on the BN19.3 screen. In the "Match Percent" column you would enter 100.00, in the "Up To" you would enter the specific % of the employee's salary, and in the "Amount" column you would enter the not to exceed amount.
g-martin
Concur, that's Contribution type =6 on BN15.
unknown
Thanks for all of the help. I will start setting up the plan.
unknown
How does the same work for a company match of 50% uot 3% of the employee contribution? As in a 403b
Wichtige Hinweise zur PROFILE Donglelizenzierung.pdf
g-martin
David, Attached shows for 50% up to 3%. Still Contribution Type = 6 on BN15
unknown
Thanks Ken
unknown
The plan I'm setting up has a contribution limit. How do I add the employee contribution limit with the match limit schedule? Thanks
unknown
If you got this set up, I'd be interested in seeing screenshots. I've got a match program that employees aren't eligible until they've been employed for 6 months, but can contribute on their own immediately. Not sure how to set it up to start matching after 6 months.
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