formula to calculate a 401K company match?
Trish,
With the salary in cell A2, and the percentage 401K constribution in B2, use this formula in C2:
=IF(B2=5%,A2*4%,IF(B2<=3%,A2*B2,A2*3%+A2*(B2-3%)/2))
HTH,
Bernie
MS Excel MVP
"Trish" wrote in message
...
The company I work for will match employees 401K with the following: The
first 3% the company matches 100%, the 4th and 5th % the company will match
50%. Does anyone know a formula that will calculate this, I need to figure
this semi-monthly.
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