I would assume most clients would benefit from this if the company offers a 401k match. Even with a more simpler 401k match scheme, there should be the ability to limit annual match.
Kirk Challgren
| Company | Greater Metroplex Interiors, Inc. |
| Job Title / Role | CFO |
| I need it... | 6 months |
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the IRS publishes a maximum 401k compensation limit each year. so the limit is the max 401k compensation ($280,000 for 2019) multiplied by our maximum match %.
it doesn't matter to me which liability is limited, they just both need to be limited together so they don't surpass the limit.
For instance, let's say Company A's max 401k match is 6%. for 2019, the maximum amount they could match is $16,800 (6% of $280,000).
I admit I am not an IT expert, but it seems like it should work just like the 401k limit group works. We have 2 401k deducts that have a limit applied so the total amount for both deducts combined doesn't surpass the IRS employee max deduct for the year.
What determines your matching limit? (i.e. employee compensation or other)
What rules do you use to cap your liabilities - is one limited fully before the other or both limited proportionally?
An example with limits would be helpful
Did you have this customized?