Are company 401k contribution matching limits typically by pay period?

[Viper GTS]

Just got a letter stating that my company is nuking the 401k match for the rest of 2009. They are matching for the next two pay periods & then it's over. The match is currently 100% up to 4%, so I've been contributing at the matching limit since day one. I know it was a generous match & was amazed it was still there when 2009 benefits renewal came around but I suppose all good things must end.

My first reaction was to go max out the contribution amount, if I'm lucky I might get one pay period out of it - The first pay period of the remaining two is in three days. Then I thought about it for two more seconds & realized they probably won't match beyond 4% no matter what I do - Unless by some random stroke of luck they cap you when you hit the 4% of your salary limit (which seems very unlikely, considering the potential for abuse).

So AT, what are my odds of success in exploiting this 3 week notice?

Viper GTS

 

[IronWing]

I think you're not going to get more than 4% of the next two paychecks in matching.

 

[spidey07]

Take your free money.

 

[Nik]

I don't know anything about a 401K but I did stay at a holiday inn last night.

 

[her209]

Yes, typically the company matches each contribution and not the cum. amount.

 

[RU482]

Originally posted by: her209
Yes, typically the company matches each contribution and not the cum

wow, I'm in the wrong 401k

 

[CPA]

I can change my contribution online, but it won't go into effect until the next full pay period. Your payroll department should be able to change your contribution amount for the second pay period, but not in time for the current pay period. My guess is that payroll has already processed, so it's a moot point.

Oh, and as her209 stated it's on a per pay period contribution. However, there is an annual limit that is based on the annual contribution limits dictated by the IRS.