Hello!
I was wondering if there was anyone whose company offers Traditional 401(k) option and Roth with Company Match? If so, what system do you use to calculate the match?
We need to aggregate both types of deferrals for the matching calculation. Lawson cannot first add both types of deferrals and then apply the appropriate matching formula. So, I was wondering if anyone can share how they do it?
thanks!
Yes, we have those set up correctly.
What we want is for the system to aggregate both roth and traditional % and then calculate the match.
The problem is, if I do 3% roth and 3% traditional, system will give us a total match of 6%. However, our match schedule is 100% the first 3%, and 50% the next 2%, up to 4%.
Is the system currently doing this calculation for you correctly? If so, would you be able to share screenshots? Maybe I'm missing something?
thanks,