software

Hello,

I need to create a formula that will calculate a tiered 401k match based
upon the amount being contributed.

The match formula is 100% on the first 3% of an employee's contribution, and
50% on the next 2% contributed.

The columns I have are 1) Salary, 2)Percent contributed.

Any and all help is greatly appreciated.

One way:

A1: Salary
B1: % contributed
C1: =(MIN(B1,3%)/2 MIN(B1,5%)/2) * A1In article gt;,
JK gt; wrote:

gt; Hello,
gt;
gt; I need to create a formula that will calculate a tiered 401k match based
gt; upon the amount being contributed.
gt;
gt; The match formula is 100% on the first 3% of an employee's contribution, and
gt; 50% on the next 2% contributed.
gt;
gt; The columns I have are 1) Salary, 2)Percent contributed.
gt;
gt; Any and all help is greatly appreciated.

Thanks JE,

But, when I input that formula it appears to simply give me 4% of the salary
regardless of the percentage column. Any thoughts? Thanks!

quot;JE McGimpseyquot; wrote:

gt; One way:
gt;
gt; A1: Salary
gt; B1: % contributed
gt; C1: =(MIN(B1,3%)/2 MIN(B1,5%)/2) * A1
gt;
gt;
gt; In article gt;,
gt; JK gt; wrote:
gt;
gt; gt; Hello,
gt; gt;
gt; gt; I need to create a formula that will calculate a tiered 401k match based
gt; gt; upon the amount being contributed.
gt; gt;
gt; gt; The match formula is 100% on the first 3% of an employee's contribution, and
gt; gt; 50% on the next 2% contributed.
gt; gt;
gt; gt; The columns I have are 1) Salary, 2)Percent contributed.
gt; gt;
gt; gt; Any and all help is greatly appreciated.
gt;

Did you fill in your percentages in column B?

Here's my results:

A B C
1 100 0% 0.00
2 100 1% 1.00
3 100 2% 2.00
4 100 3% 3.00
5 100 3.2% 3.10
6 100 4% 3.50
7 100 5% 4.00
6 100 6% 4.00In article gt;,
JK gt; wrote:

gt; Any thoughts?

Thanks, I had the formatting wrong. This is great, I appreciate your help!

quot;JE McGimpseyquot; wrote:

gt; Did you fill in your percentages in column B?
gt;
gt; Here's my results:
gt;
gt; A B C
gt; 1 100 0% 0.00
gt; 2 100 1% 1.00
gt; 3 100 2% 2.00
gt; 4 100 3% 3.00
gt; 5 100 3.2% 3.10
gt; 6 100 4% 3.50
gt; 7 100 5% 4.00
gt; 6 100 6% 4.00
gt;
gt;
gt; In article gt;,
gt; JK gt; wrote:
gt;
gt; gt; Any thoughts?
gt;