Company Deductions - 401(k) Safe Harbor Match
- Safe Harbor 401(k) employer contributions have specific rules.
- TRAXPayroll calculates the employer match for Safe Harbor 401(k) deductions.
- The match is 100% on the first 3% of deferred compensation plus a 50% match on deferrals between 3% and 5% (4% total).
- Menu: Company>Deduction>Employer Cost
- Check the Safe Harbor Matching Contribution box.
- If employer match amounts were entered on employee records, they will be ignored.