We are in the process of setting up a Roth 401K plan. We currently have a regular 401K. There is a combined limit of 3.50% on the Matched Employer contributions. When entering this into Lawson it’s treating them independently. We need the system to look at them together. Does anyone know how we would set this up in Lawson?
Example:
2% (401K) – Employer Matched Contribution = 1.5%
2% (Roth 401K) – Employer Matched Contribution = 1% (The system is calculating this to be 1.5% and it should be 1%)
4% combined = 2.5% - 1.5% = 1% would go to the Roth matched.
Any suggestions would be greatly appreciated.
Thanks, Nitsa