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Forums Human Capital Management Lawson S3 HR/Payroll/Benefits

401k Company Match Schedule on BN15

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Kchan
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5/12/2014 10:45 PM
Hello!
We're trying to set up a plan schedule where the Company matches 100% of employee's 401(k) contributions up to 3%, and then matches 50% of employee's contributions up to 5%.

Has anyone done this? Or, does anyone have advice on how we can set this up?

Thanks!
Deleted User
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5/13/2014 8:46 AM
Plan type is 7 match percent schedule, on the BN18.7 page you'll need to fill in your company's specifics (rounding, maximum employee percent, etc.). Our match calculation is Cumulative. Select the Schedule, it will bring you to BN19.4 On the first line, leave the beginning percent field blank, under Match Percent enter 100.00. Second line, beginning percent is 4, Match Percent = 50.00. Third line, enter 6 for the beginning percent and add that line without any Match percent number (we have the same match )
M.J.
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5/13/2014 1:10 PM
We do this as well and the steps are the same as Stephanie listed. If you need screenshots, just let me know and I can post a few.
Kchan
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5/13/2014 3:24 PM
Thank you for the response! Yes, may you attach some screenshots? That would be helpful.

thanks!
M.J.
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5/13/2014 4:30 PM
Attaching some screenshots in a PDF - hope this helps out.
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Kchan
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5/21/2014 6:14 PM
Thank you very much!
Kchan
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10/10/2014 7:36 PM
Hi Stephanie,

Currently, our Contribution Type is 6 Match Limit Schedule. When I change it to 7 Match Percent Schedule, Lawson does not allow me. It gives me the message: "Cannot change coverage or contribution type; benefits exist."

Do you know how to go about changing the contribution type?

thanks!