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Lawson S3 HR/Payroll/Benefits
change benefit from Match Limit to Match Percent
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change benefit from Match Limit to Match Percent
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Mary Porter
Veteran Member
Posts: 337
1/4/2013 2:45 PM
I need to change one of the DC plans from Match Limit to Match Percent. do I have any other options besides creating a new plan and creating new deduction codes?
yvonne.mccolloch
Advanced Member
Posts: 32
1/4/2013 3:07 PM
Mary, I just had to do the same thing, and yes, I had to build a new plan. While testing, I thought I'd just be able to change the criteria on the parameters on the main tab, but no can do, at least not on our version (and we just updated to MSP 10). I did learn during testing that moving the current elections for employees from one plan to another is pretty easy via a BN31.1 upload, if that makes your pain any easier.
Mary Porter
Veteran Member
Posts: 337
1/4/2013 6:04 PM
Yvonne,
Thanks for responding. There are only 10 employees so that part won't be quite as painful. Happy 2013!
Mary Porter
Veteran Member
Posts: 337
1/4/2013 8:47 PM
I spoke too soon. If they contribute up to 9.9% of their salary, the match is 10% of their salary. If they contribute 10% or more of their salary, the match is 12% of their salary.
I don't think the match percent schedule is going to work for this scenario. I might have to make two separate plans using the match limit schedule. I'd welcome any ideas if anyone else
is doing something like this.
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