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re: Roth 401k company match question
Posted on 10/16/12 at 9:59 pm to Chris Farley
Posted on 10/16/12 at 9:59 pm to Chris Farley
Rule #1 about benefits - never rely on HR to have a clue about anything even remotely complex.
You need to sit down with a plan administrator and work through examples. Get it in writing. And prepare for it to still be wrong and probably not worth your time to go somewhere else.
True story - I had an HR airhead tell me (perfectly honestly, she was just clueless) that the promised 4% match was only 2% because it was applied to a paycheck that was twice monthly, so it was pro-rated.
You need to sit down with a plan administrator and work through examples. Get it in writing. And prepare for it to still be wrong and probably not worth your time to go somewhere else.
True story - I had an HR airhead tell me (perfectly honestly, she was just clueless) that the promised 4% match was only 2% because it was applied to a paycheck that was twice monthly, so it was pro-rated.
2
Posted on 10/16/12 at 10:20 pm to foshizzle
quote:
Rule #1 about benefits - never rely on HR to have a clue about anything even remotely complex.
Ditto.
I asked my HR rep a question about our 401k and she told me she doesn't know because she doesn't participate (a plan with matching). It was the last question I ever asked her.
Posted on 10/17/12 at 5:55 pm to foshizzle
quote:
True story - I had an HR airhead tell me (perfectly honestly, she was just clueless) that the promised 4% match was only 2% because it was applied to a paycheck that was twice monthly, so it was pro-rated
I'll have to check with our plan administrator. Does anyone think it is worth contributing to(as a substitute for some of my pre-tax 401k contribution) if they only match the net amount? I understand it is important to hedge your tax consequences but not sure if it is worth the lesser match. I'm only 23, not a 1%er OT big swinging dick knocking off $250k.
This post was edited on 10/17/12 at 5:58 pm
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