401K Match DBA Question
Currently we have one DBA for employee 401K contributions and a second DBA for employer match (% of wages with an annual limit lower than the employee annual contribution limit). As these are set up now an employee can reach their annual limit before meeting the employer match annual limit if the employee is contributing at a significantly higher % than the employer match %. When this happens the employer match continues until the employer match annual limit is met or the calendar year ends. We need to change the employer match to stop when the employee reaches the employee annual contribution limit even if the employer match annual limit is not yet met.