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Forums Lawson S3 HR/Payroll/Benefits

Company match Roth and Traditional 401(k) plan changes mid year

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lpetroff
Basic Member
Posts: 15
Basic Member
9/13/2010 3:55 PM
    We currently offer company match plans of up to 4% for both the Roth and traditional 401(k) plans, however, they can only be in one plan at a time. My question is if we allow for mid-year changes from one plan to the other, how does Lawson recognize any company match dollars already taken from one plan to the other? We currently use a descending balance on BN19.4 to accommodate for the maximum match.

    Thanks!
    Margie Gyurisin
    Veteran Member
    Posts: 538
    Veteran Member
    9/13/2010 4:21 PM
      You will need to adjust the PR14 with the correct balance when they transfer from plan to plan. That is one of the reasons we set ours up to be in the same plan. Also, our employees can elect a portion of their contributions to be Roth and part of their contributions to be pre tax. If they were in different plans, they could end up with a company match for each that would exceed the per pay match amount.
      lawsonuser
      New Member
      Posts: 2
      New Member
      2/8/2011 2:26 PM
        What add in/ form would you use to adjust the PR514 with the correct balance?

        Thanks!
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