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401k Matching Question
Posted on 6/2/14 at 4:02 pm
Posted on 6/2/14 at 4:02 pm
This is the policy my company has in place.
other places Ive work had it pretty straight forward-we match 5% or we match 3% of your salary.
the language is tripping me up a little bit, anyone care to put it in layman's terms.
quote:
is obligated, under the deferral matching provision of the plan, to match 25% of employee deferrals, up to 1.25% of the annual compensation of each participant
other places Ive work had it pretty straight forward-we match 5% or we match 3% of your salary.
the language is tripping me up a little bit, anyone care to put it in layman's terms.
3
Posted on 6/2/14 at 4:04 pm to Happygilmore
They will match 25% of what you contribute, until their contribution reaches 1.25% of your annual salary.
So, to max out their match, you need to contribute 5%.
So, to max out their match, you need to contribute 5%.
This post was edited on 6/2/14 at 4:05 pm
Posted on 6/2/14 at 4:06 pm to Happygilmore
sounds like for every dollar you put in they match 25 cents and they only match up to 1.25% of your salary
so if you but in 5% of your salary, you max out getting a whopping 1.25% match...
so if you but in 5% of your salary, you max out getting a whopping 1.25% match...
Posted on 6/2/14 at 4:26 pm to Happygilmore
Be happy. My last job matched 0%.
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