401 match (poll)

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills.
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company match for retirment savings?

No match
19
9%
Pension
22
10%
1-2%
13
6%
3-4%
70
32%
5-6%
52
24%
7-8%
12
6%
9-10%
12
6%
11-15%
13
6%
16% or more
4
2%
 
Total votes: 217

Topic Author
Johm221122
Posts: 6393
Joined: Fri May 13, 2011 6:27 pm

401 match (poll)

Post by Johm221122 »

What is the maximum match in your retirement plan( percentage )?Even if you are not eligible
placeholder
Posts: 8421
Joined: Tue Aug 06, 2013 12:43 pm

Re: 401 match (poll)

Post by placeholder »

Presumably you are asking about percent of salary not the percentage of the contributed amount as in 75% of the first 8% == 6% of salary.
Jack FFR1846
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Joined: Tue Dec 31, 2013 6:05 am
Location: 26 miles, 385 yards west of Copley Square

Re: 401 match (poll)

Post by Jack FFR1846 »

I don't have to figure out what the % is of. My company gives me nothing. 0% of whatever metric you want. My life is so simple.
Bogle: Smart Beta is stupid
Topic Author
Johm221122
Posts: 6393
Joined: Fri May 13, 2011 6:27 pm

Re: 401 match (poll)

Post by Johm221122 »

Yes, percentage of salary

John
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Cottons
Posts: 93
Joined: Thu Feb 27, 2014 11:39 am

Re: 401 match (poll)

Post by Cottons »

My tiny (possible money laundering) company matches 80% of the first 5% I contribute.
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schuyler74
Posts: 236
Joined: Sat Apr 20, 2013 12:56 am

Re: 401 match (poll)

Post by schuyler74 »

Mine matches half of what you contribute, with a max of 2%. So I put in 4% or more, they give 2%.
traveler90
Posts: 206
Joined: Wed Nov 13, 2013 2:46 pm

Re: 401 match (poll)

Post by traveler90 »

My company matches 5%
Learner1
Posts: 17
Joined: Mon Sep 23, 2013 5:39 pm
Location: Lakewood, OH

Re: 401 match (poll)

Post by Learner1 »

My company matches 30% on the dollar up to 5% contribution, i.e maxes out at 1.5% of gross.
The Wizard
Posts: 13356
Joined: Tue Mar 23, 2010 1:45 pm
Location: Reading, MA

Re: 401 match (poll)

Post by The Wizard »

I had a 403(b) rather than a 401(k).
My employer was spun off from a local university but kept the same retirement plan that was used there.
We were REQUIRED to contribute 5% of our gross salary to the tax-sheltered retirement plan from day one.
And the company contributed double that for another 10% of salary.
There were also completely optional "supplemental" contributions that could be made, but those were not matched...
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investingdad
Posts: 2139
Joined: Fri Mar 15, 2013 10:41 pm

Re: 401 match (poll)

Post by investingdad »

My MegaCorp still has a lot of folks on pension. If you joined after X date but before Y date, you had a choice to stay pension or go 401K. If you joined after Y it was 401K with no option for pension.

I joined after Y date.

The maximum match is 9% of salary, depending on years of service
skylar
Posts: 314
Joined: Sat Oct 04, 2008 11:28 am

Re: 401 match (poll)

Post by skylar »

My 403b is age dependent. Under 35 is 100% up to 5%, 35-50 is 7.5%, and over 50 is 10%.
jmg229
Posts: 373
Joined: Mon Jan 31, 2011 12:21 pm

Re: 401 match (poll)

Post by jmg229 »

My wonderful little school I work for provides 7% regardless of employee contribution.
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zaboomafoozarg
Posts: 2431
Joined: Sun Jun 12, 2011 12:34 pm

Re: 401 match (poll)

Post by zaboomafoozarg »

3% 401k match + 1% salary * years of service pension
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GerryL
Posts: 3902
Joined: Fri Sep 20, 2013 11:40 pm

Re: 401 match (poll)

Post by GerryL »

My company doesn't have a match, but each year they put a sum into a profit sharing account. So you get the additional funds even if you don't have a 401k.
Topic Author
Johm221122
Posts: 6393
Joined: Fri May 13, 2011 6:27 pm

Re: 401 match (poll)

Post by Johm221122 »

My 4% match feels better now, I just need to see if my .80 exspense ratio is average

John
User avatar
BrandonBogle
Posts: 4467
Joined: Mon Jan 28, 2013 10:19 pm

Re: 401 match (poll)

Post by BrandonBogle »

MegaCorp is dollar for dollar up to 6% of salary, with profit sharing bonus (in addition to pay bonus). Profit sharing bonus in the last five years has ranged from 1%-3%. Thus, I checked off 5-6% and 7-8% even though I could get 9%. Also, we have a pension that was stopped a couple years ago, but existing employees were grandfathered in at their then expected return from the pension.
Traveler
Posts: 848
Joined: Fri Aug 30, 2013 9:07 pm

Re: 401 match (poll)

Post by Traveler »

My company matches 3.5% but they also have a defined contribution retirement plan that they contribute another 6% to (increases to a maximum of 7% at a certain age), and this plan is portable should I leave the company. So total of 9.5% contributed to retirement.
cherijoh
Posts: 6591
Joined: Tue Feb 20, 2007 3:49 pm
Location: Charlotte NC

Re: 401 match (poll)

Post by cherijoh »

I get a 1:1 match up to 5% of my salary as a match. The company also did away with a cash balance pension (4% of salary) and replaced it with a 2% contribution directly to 401k irrespective of an employee contribution. Since the poll was specifically asking about match I answered 5%.
MississippiSkip
Posts: 6
Joined: Sun Aug 04, 2013 9:02 pm

Re: 401 match (poll)

Post by MississippiSkip »

Contribute 6% in order to get a 3.5% Match
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TomatoTomahto
Posts: 17158
Joined: Mon Apr 11, 2011 1:48 pm

Re: 401 match (poll)

Post by TomatoTomahto »

When I started at a bank, they matched 2 for one. Yup, you put in 6% of salary, they'd put it 12%. Many co-workers didn't think that was a good enough deal and didn't participate :oops: . The bank that took them over kept cutting at the benefits, and currently matches the first 3%. To be fair, they also fund a pension for employees.
I get the FI part but not the RE part of FIRE.
dsmil
Posts: 773
Joined: Tue Sep 08, 2009 10:51 am

Re: 401 match (poll)

Post by dsmil »

The amount that my company contributes is discretionary based on a % of salary. Since the fees are high, I don't contribute at all since it has no effect on what the company puts in. I think that they usually give around 2% of salary.
Jeff7
Posts: 329
Joined: Sat Nov 24, 2012 1:30 pm

Re: 401 match (poll)

Post by Jeff7 »

50% of up to 4% of gross, so 2%.
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siamond
Posts: 6008
Joined: Mon May 28, 2012 5:50 am

Re: 401 match (poll)

Post by siamond »

30% match of my contributions. Pretty sweet.
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DaveG
Posts: 81
Joined: Thu May 26, 2011 9:41 am
Location: Plano, Texas

Re: 401 match (poll)

Post by DaveG »

100% match on first 6% contributed.
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slick_dealer_05
Posts: 420
Joined: Tue Jul 24, 2007 8:16 pm

Re: 401 match (poll)

Post by slick_dealer_05 »

Self Employed LLC with 25% match :)
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ResearchMed
Posts: 16795
Joined: Fri Dec 26, 2008 10:25 pm

Re: 401 match (poll)

Post by ResearchMed »

It's not a "match".

Employer contributes maximum allowed per age of Employee, regardless of whether Employee contributes.

(We also contribute, of course.)

RM
dublin
Posts: 266
Joined: Sun Aug 28, 2011 2:12 pm

Re: 401 match (poll)

Post by dublin »

After having 0% match for years, company eventually instituted a match of 100% on the first 3%, then 50% on the next 2%, so if I put in 5%, I get a 4% total match. Pretty nice, and they shouted it from the mountaintops as a generous new benefit. Then I googled a bit and discovered that that's the prescribed 'safe harbor' contribution, meaning they mostly decided to do it because upper management was being limited in their contributions. But hey, I'll take it.
BuckyBadger
Posts: 1221
Joined: Tue Nov 01, 2011 11:28 am

Re: 401 match (poll)

Post by BuckyBadger »

My old job gave me a fairly standard 3% match. When I took my new job, part of the reason I took it was that even though I didn't get a raise in salary, the new job included a generous contribution regardless of if I contributed or not. There is a complicated calculation (so much percent of your salary up to a certain level, then a different percent up to a different max level of salary) but it comes out to right about 14% of my salary.i considered it a 14% raise, but it's actually better than a raise, because it gets more money into the tax advantaged accounts. My husband's company puts his bonus right into his 401k, too, which is awesome. With his bonus and his regular matching it comes to about 7% for him.
ParlayBogle
Posts: 143
Joined: Mon Jun 11, 2012 9:01 pm

Re: 401 match (poll)

Post by ParlayBogle »

I would prefer to have the option of deciding where to put my bonus, so I would not consider it awesome to have it put automatically in my 401(k).
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leonidas
Posts: 487
Joined: Sun Jul 10, 2011 8:58 am
Location: Mansfield Township, NJ

Re: 401 match (poll)

Post by leonidas »

I get 100% match on the first 6% plus 1% automatically added. Good thing is we also have a great pension and reitree health benefits.
Miguelito
Posts: 471
Joined: Thu Feb 27, 2014 12:21 pm

Re: 401 match (poll)

Post by Miguelito »

4.5% match (don't recall if it's 1 to 1 or 50%, but I always contribute enough to get it all). The company also offer a 3% basic contribution. So in total, I get 7.5%. However, that basic 3% contribution is only for those whose age + years of service is 50 or less. 51-60 gets you 4%, and 61-70 gets you 5%. So you could get as much as 9.5% match.
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Clark & Addison
Posts: 257
Joined: Mon Jan 14, 2013 11:15 am

Re: 401 match (poll)

Post by Clark & Addison »

I get a 1% match. I've never heard of companies matching 16% or more. How great would that be?
donaldfair71
Posts: 1241
Joined: Wed Mar 06, 2013 3:15 pm

Re: 401 match (poll)

Post by donaldfair71 »

We get a match of 2% max, with the following criteria:

0 years experience (first year): 0% of 2%
1-5 years experience: 25% of 2%
6-10: 50% of 2%
11-15: 75%
16+: 100% up to 2%

We used to get up to 5%, but it dropped to 2% about 5 years ago when the economy got hit hard (My wife and I both teach in the same district).

I can't complain though. We got vested in the state pension (Virginia) one year before the full retirement age was raised about 5 years ago. Then they changed it once again to a hybrid program last year. So our respective group of retirees, in 25-30 years, were the last group that can retire earlier, and with a likely higher benefit, than those that came immediately after us.
ndayev6
Posts: 29
Joined: Sat Mar 23, 2013 9:51 am

Re: 401 match (poll)

Post by ndayev6 »

The university hospital that I work for has an incredible match. If you invest 5% of your income they will then invest 10% of your income (200% match up to 5%). Unfortunately, I am only here for one year and they require 1 year employment before university contribution. Fortunately, my wife works for the same university and has been receiving the incredible match for 3 years. This benefit is too good as witnessed by a recent university-wide email stating that in about one year any new employees would be receiving a lesser match.
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