Hello, we recently have implemented a 401K plan. I am wondering if someone can tell me if I can set things up properly in Sage 50 with the options our company offers. They are as follows:
Employer contributes a straight 8% for every employee, pre-tax
Employees have the option to contribute to a pre-tax 401K or a Roth 401K
Do I need to set up a special formula for the straight 8%? Actually the 8% is broken down into a 3% and a 5% contribution. Is there a way to separately account for those? Also to separately account if an employee is depositing to the pre-tax 401K?
Thank you in advance. :)