401 match (poll)
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401 match (poll)
What is the maximum match in your retirement plan( percentage )?Even if you are not eligible
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Re: 401 match (poll)
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.
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Re: 401 match (poll)
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
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Re: 401 match (poll)
Yes, percentage of salary
John
John
Re: 401 match (poll)
My tiny (possible money laundering) company matches 80% of the first 5% I contribute.
- schuyler74
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Re: 401 match (poll)
Mine matches half of what you contribute, with a max of 2%. So I put in 4% or more, they give 2%.
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Re: 401 match (poll)
My company matches 5%
Re: 401 match (poll)
My company matches 30% on the dollar up to 5% contribution, i.e maxes out at 1.5% of gross.
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Re: 401 match (poll)
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...
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...
Attempted new signature...
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Re: 401 match (poll)
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
I joined after Y date.
The maximum match is 9% of salary, depending on years of service
Re: 401 match (poll)
My 403b is age dependent. Under 35 is 100% up to 5%, 35-50 is 7.5%, and over 50 is 10%.
Re: 401 match (poll)
My wonderful little school I work for provides 7% regardless of employee contribution.
- zaboomafoozarg
- Posts: 2431
- Joined: Sun Jun 12, 2011 12:34 pm
Re: 401 match (poll)
3% 401k match + 1% salary * years of service pension
Re: 401 match (poll)
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.
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Re: 401 match (poll)
My 4% match feels better now, I just need to see if my .80 exspense ratio is average
John
John
- BrandonBogle
- Posts: 4467
- Joined: Mon Jan 28, 2013 10:19 pm
Re: 401 match (poll)
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.
Re: 401 match (poll)
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.
Re: 401 match (poll)
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%.
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Re: 401 match (poll)
Contribute 6% in order to get a 3.5% Match
- TomatoTomahto
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Re: 401 match (poll)
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 . 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.
Re: 401 match (poll)
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.
Re: 401 match (poll)
50% of up to 4% of gross, so 2%.
Re: 401 match (poll)
30% match of my contributions. Pretty sweet.
Re: 401 match (poll)
100% match on first 6% contributed.
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Re: 401 match (poll)
Self Employed LLC with 25% match
- ResearchMed
- Posts: 16795
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Re: 401 match (poll)
It's not a "match".
Employer contributes maximum allowed per age of Employee, regardless of whether Employee contributes.
(We also contribute, of course.)
RM
Employer contributes maximum allowed per age of Employee, regardless of whether Employee contributes.
(We also contribute, of course.)
RM
Re: 401 match (poll)
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.
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Re: 401 match (poll)
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.
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Re: 401 match (poll)
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).
Re: 401 match (poll)
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.
Re: 401 match (poll)
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.
- Clark & Addison
- Posts: 257
- Joined: Mon Jan 14, 2013 11:15 am
Re: 401 match (poll)
I get a 1% match. I've never heard of companies matching 16% or more. How great would that be?
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Re: 401 match (poll)
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.
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.
Re: 401 match (poll)
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.