I need a formula to calculate an employer 401k match, but the match caps at a flat rate. I have some people deferring a % and some deferring a flat rate. Whatever they are deferring needs to be capped and then calculated to represent the chunk for the 2 week paycheck. Ex: 3% deferral, gross $2,000, caps at $100/month. Ex 2: $45/paycheck deferral, gross $3,301.90, caps at $90/month.
Solved by F. Q. in 19 mins