Rate Table for a savings plan

SUGGESTED

I need to setup a rate table for a savings plan.  The company will match up to 5% of the employee contribution if the employee has been with the company less than seven years and will match up to 6% if the employee has been with the company seven years or more.  Any suggestions?

  • 0
    SUGGESTED

    Use the expression builder to create a formula for the "Employee Contribution Per Pay Period". The formula would need to calculate the difference between the hire date and today's date in order to determine if it is less than seven years and apply the appropriate rate.

    Alternatively, if you have trouble coming up with the formula syntax you can always create two separate plans. 

  • 0 in reply to angel g

    I used: 

    column Seniority

    (Date()-TtoD(Pe.p_sendate))/365     

    column 2 rate 

    1 6 MIN(Be.b_401epct,5) 

    where 1 is item,

    6 is years 

    MIN(Be.b_401epct,5)  is rate

    2 99 MIN(Be.b_401epct,6)

    for result of upto 6 years they get 5% after that they get 6%