Program Description
This report can be found on the Payroll Reports Pay Period Report menu (PAY-4-1-10).
Rev 13 Changes
The input screen has been changed to add an additional prompt. This prompt allows the user to have the report not calculate an employer match if the employee has not been employed at that company for a certain amount of time. The report uses the hire date to determine if the company matches any part of the employee 401k contribution.
This report should be run after each payroll if you are using the 401k distribution plan.
The report will print the total amount deducted per employee and calculate the dollar amount that should be contributed to each different 401k plan.
The following fields are described below:
Pay Period Number Or E’nd
Enter the pay period number the report is being run for. Enter E to end and return to the menu.
Company % Contribution (EX: 25% = 2500)
This is the percentage that the company is contributing. Enter zero if the company does not contribute anything.
Maximum Employee Contribution % to Match (EX: 5% = 500)
This is the maximum that the employer will match. If you do not have a maximum amount to match, enter 10000 for 100%. Enter zero if the company does not contribute anything.
Match 401K If Date Hired Is Less Than Input Or Match A’ll
Enter the date that will be used to determine if the report should calculate a company match amount. If the date hired in the employee file is less than this date, the report will calculate a company match amount.
Is This Correct Y’es Or N’o
Enter Y to have the report print, enter N to return to the menu.
Calculations
A = Company % Contribution
B = Maximum Employee Contribution to Match
C = Employee contribution in dollars OR (Employee Gross * B) which ever is less
C X A = Employers Contribution.