legort69 Posted July 29, 2020 Posted July 29, 2020 How is the match allocation limit determined for mid-year match changes with respect to the compensation limit? For example: Match is funded per pay period. Match formula changes July 1 from 100% of 10% to 100% of 4%. Pt earns 30k/month and contributes 10% for 1st 6 months and 4% for last 6 mo. Jan - June - match allocation = 18,000 (180,000 x 10% ) July - Dec - match allocation = 4,200 (105,000 x 4%) Total match allocation = 22,,200. Option 1 - The per pay period match total of 22,200. Option 2 - is the match limited to (10+4 )/ 2 = 7% x 285,000 = 19950 Option 3 - Something else? Thank you for your responses.
Bird Posted July 30, 2020 Posted July 30, 2020 If it is calc'd per pay period then it is per pay period (period ?). Option 1. I think such changes have the potential to be discriminatory. legort69 and Luke Bailey 2 Ed Snyder
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now