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Posted

not sure if we are the only ones that do this, but if a plan funds their safe harbor match or even a discretionary match on a payroll basis what's the easiest way to check it at the end of the year :). We have relius calculate it for some of our plans each payroll (match report sent etc.). We don't need to check those...however there are some plans where the HR or payroll company calculates, and we try to double check at the end of the year. Right now, we check each person, every payroll which is time consuming especially for large plans. Wondering if there's an easier way to do it on relius?

Posted

I'd make sure nobody's match amount exceeded the amount a annual formula would have come up with, too. 

If it's 50 on 4 every week, how did this one guy end up with 2.05% for the whole year - that kind of thing...

  • 2 months later...
Posted

In Plan Specs, change the basis for match to YTD minus prior contributions.  Then post a match contribution as of year end.  Relius will calculate the match for EEs who are under the calculated amount but will not reduce anyone who was over the calculated amount for the year.

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