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Company Deductions - 401(k) Safe Harbor Match

Overview

  • 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).

Employer Cost

  1. Menu: Company>Deduction>Employer Cost
  2. Check the Safe Harbor Matching Contribution box.
  3. If employer match amounts were entered on employee records, they will be ignored.

What's Next

Related Links:

Company Deductions
Company Menu