Help! 401k match formula

[Guest]

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.

 

[chrisr]

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

 

[Chris Rogers]

LIMIT is the amount your company is matching up to.

 

[Guest]

Thank you Chris!!!