Excel Formula to use with 401K

[debbieeees]

Hi all,
Does anyone know how to create a formula that will compare the amounts in two cells? There is the amount the person deducts from their checks and the amount the company will match (which is .25 on a dollar up to 6% of their gross). I'd like the formula for the employer match amount to be able to check the employee deferral amount and compare it to the max amount they're could get and return the appropriate value.

Thanks in advance.

 

[bluedragon2]

So, if I understand you correctly, you want a formula to calculate the employer match amount and make sure it does not exceed the max limit?

If that is correct:

Lets say employee contribution is in cell A1 and Gross is in cell B1:

=IF(.25*A1>.06*B1,.06*B1,.25*A1)

[Blue]Blue[/Blue] [Dragon]

If I wasn't Blue, I would just be a Dragon...

 

[debbieeees]

thats it, you rock! thank you so much!