If the number of years employed is greater than or equal to 1, then the
contribution is equal to the contribution percentage (3%) * $50,000;
otherwise, the contribution is $0.

=IF(INT(YEARFRAC(starting date,current date))=1,50000*0.03,0)

HTH,
--
Gary Brown

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"laurentium3" wrote:

If the number of years employed is greater than or equal to 1, then the
contribution is equal to the contribution percentage (3%) * $50,000;
otherwise, the contribution is $0.

"laurentium3" wrote:
If the number of years employed is greater than or equal
to 1, then the contribution is equal to the contribution
percentage (3%) * $50,000; otherwise, the contribution is $0.

Do you really mean "3% * salary up to 3% * $50,000"?

That seems more consistent with the subject of your posting.
If that is what you mean, then building upon Gary Brown's reply:

=IF(YEARFRAC(hireDate, criterionDate) < 1, 0, 3%*MIN(salary, 50000))

You can use TODAY() in place of criterionDate. But that usually
does fit the HR requirements.