I am hoping everyone can tell me how they have their 401(k) matching setup....

We are currently doing a simple match on the employee contribution...

However, we are looking at changing to something where we would match... say 100% on the first 4%, 50% on the next 4%... etc.

(We are looking at the "Safe Harbor" settings and I am trying to see if Lawson can handle the "Safe Harbor" setup?)

We use the match percent schedule - 100% up to 3% ee contribution, 50% up to 5% contribution.

PS - I'm curious how the contributions for DC plans relate to Safe Harbor?

If you match 100% of employees first 3% contribution and at least 50% of next 2% and do immediate vesting you are not subject to discrimination testing.

Also,

Does anyone have a 401(k) setup like this:

401k
Employer match: 100% of first 3% contributed and 50% of next 4%

401k catchup
Employer match: no matching

We have Lawson and BSI - I am trying to find out if this setup is possible within the system - without manual manipulation????

Hi Shane - yet again, I learn something every day! I had no idea that discrimination testing related to Safe Harbor - I thought SH only related to data protection/privacy.

We have the same type of set up as you - but our adminstrator requires that we have separate plan set up - which is probably not what you're looking to do. I'm not sure there IS a way to set it up as one plan, without using a custom calculation for employee's with a BSI code.

Good luck

Stephanie,

You only have one 401(k) and one Catchup plan - correct?

Shane

Stephanie...

Are you saying that you have the following

401k-plan1 - with an employee limit of 3% and 100% employer match
401k-plan2 - with an employer match of 50% on first 5% contributed
catchup - no employer match

????

Shane

We have 2 plans - 1 TSP (govt version of 401k), employee contributions matched 100% of the 1st 3%, 50% match up to 5% contribution. 1 catch up plan - employee contributions only, no match.

How does everyone have their plan setup. If you have two match levels

100% match on first 0-2% contributed
50% match on next >2-7% contributed


BN15
Comp Limit (Y, N or B)
match schedule type
PR05
Calculation Type (P, E, other)


We are not able to make our plan work consistently. We are noticing that we will need to manually adjust payrolls so that the CALC will work which is very frustrating because we setup our plan with a simple design so that it would work -

Are others adjusting the match for associates??????????????