How good is your company's 401k matching?

[NuclearNed]

1% to 6% of my pay, the company matches 50%.
7% to 10% of my pay, the rule above still applies with the addition that the company matches 75% of the portion above 6%.

Is that decent compared to most companies?

 

[kt]

That's pretty decent compared to mine.

 

[iamwiz82]

100% up to 3% and then 50% above 3% to 7%

 

[chambersc]

3% of my pay, company covers 100%
2-3% after that, they cover 50%

 

[EngenZerO]

roughly similar to yours...

 

[HeroOfPellinor]

Um, I get 3% up to 35%. It's a joke....I think somebody is interpretting it incorrectly, because it's something like 1% in the end. :thumbsdown: But I'm not there for the 401K plan. :thumbsup:

 

[Drakkon]

100% up to 5%

 

[Cheetah8799]

100% match up to 5%, but there is a steep 5 year vesting period. If I leave within 2, I lose all matched money. Within 3 or 4 I lose half I think. After 5 years, I keep all matched money.

Personally, I'm a little annoyed because the HR guy said nothing about the vesting period when he made is sound all nice to me...

 

[Garet Jax]

Mine doesn't match at all.

 

[Betawi]

Up to $500 a year here :-(

 

[NuclearNed]

...And a few quick calculations later, I have my company's effective matching. This is probably what I'm most interested in seeing from other people, if you don't mind to do the math.

1%-6%: 50%
7%: 53.57%
8%: 56.25%
9%: 58.33%
10%: 60%

 

[FoBoT]

"$1.00 for every $1.00 up to the first 5% of your before-tax compensation"

i currently contribute at the 5% level to get the full match

 

[aircooled]

50% up to 8% and that increases with the number of years employed

 

[Cal166]

100% up to 3%.

 

[edro]

50% up to 6%.

Which I do not understand... isn't that just 3% matching?

 

[MikeyIs4Dcats]

100% for the first 4%
then 50% for the next 2

so basically I get 5% for my 6%, 100% vested immediately.

 

[Glayde]

200% up to 5%.

No matching after that.

 

[toolfan]

100% up to 4%

 

[Ryan]

100% for the first 4%, 50% up to 8% IIRC.

 

[NuclearNed]

Originally posted by: FoBoT
"$1.00 for every $1.00 up to the first 5% of your before-tax compensation"

i currently contribute at the 5% level to get the full match

ayup - its basically free money. With my recent promotion and associated raise, I suddenly had a whole bunch of money in my paycheck. Coincidentally, about a week after my promotion my company put the "7%-10%" rule in effect. I went ahead and contributed the maximum (10%); previously I was contributing only 3% and had been contemplating to to 6% before I found out about the new rule.

 

[chambersc]

Originally posted by: FoBoT
"$1.00 for every $1.00 up to the first 5% of your before-tax compensation"

i currently contribute at the 5% level to get the full match

hmm, 5% gross? is that typical of most companies? idk if im calculating mine wrong...theres a big difference between 5% net and gross for me

 

[IamElectro]

6% and matched 100%

 

[NuclearNed]

Originally posted by: chambersc

Originally posted by: FoBoT
"$1.00 for every $1.00 up to the first 5% of your before-tax compensation"

i currently contribute at the 5% level to get the full match

hmm, 5% gross? is that typical of most companies? idk if im calculating mine wrong...theres a big difference between 5% net and gross for me

mine is pre-tax also.

 

[FoBoT]

i looked it up and copied that straight from the HR page, it had a (<note>) about subject to IRS limitations, something something, i think it had to do with those making ginourmous $$$, like the CEO etc

<shrugs>

 

[radioouman]

2% for 401k and 1% for profit sharing.