| Income Range | |
|
In Option 4, the user can calculate Voluntary Contributions based on a predefined income limit. |
| For example, Employee Monthly Income = $50,000 | |
| Employer Voluntary Contribution | |
| Range 1: 2% from $ 1 to $10,000 Max Income | |
| Range 2: 7% above max income | |
| ($10,000x2%)+(($50,000-$10,000) x7%) | |
| = $3,000 | |
| Employee Voluntary Contribution | |
| Range 1: 5% from $ 1 to $ 10,000 Max Income | |
| Range 2: 5% above max income | |
| ($10,000x5%)+(($50,000-$10,000)x5%) | |
| = $2,500 | |