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Best 401K matches you have heard of
Posted on 2/17/16 at 2:23 pm
Posted on 2/17/16 at 2:23 pm
Listened to former NFL player on radio today, and he claimed that NFL matched 300-400% of players' 401K contributions. Never heard him mention anything about a cap on buying in.
just.....wow
just.....wow
20
Posted on 2/17/16 at 2:27 pm to Rouge
NFL has a pension plan.
ETA: I spoke before doing research so I'll let someone else who knows more chime in on specifics to the NFL. I was always aware of the pension plans for professional athletes, not 401k plans. Either way the matching structure your referring to would make sense in a defined benefit plan, not a defined contribution plan.
ETA: I spoke before doing research so I'll let someone else who knows more chime in on specifics to the NFL. I was always aware of the pension plans for professional athletes, not 401k plans. Either way the matching structure your referring to would make sense in a defined benefit plan, not a defined contribution plan.
This post was edited on 2/17/16 at 2:33 pm
Posted on 2/17/16 at 2:28 pm to Rouge
CHK would match 15% as of last year. Not sure if they still do since they may not make it out of 2016.
Posted on 2/17/16 at 2:37 pm to Rouge
Not saying it's the best, but my company matches 25 cents on the dollar up to 15%.
It's not a great match, but the plan is a good incentive to really save for retirement.
It's not a great match, but the plan is a good incentive to really save for retirement.
Posted on 2/17/16 at 2:51 pm to TheDiesel
My company (upstream oil) gave 7% off the bat and matched another 7% if you put in 5%. So you put in 5% of your salary and they gave 14%
Now, they just slashed it, and match a max of 2%
Now, they just slashed it, and match a max of 2%
This post was edited on 2/17/16 at 2:52 pm
Posted on 2/17/16 at 3:00 pm to Rouge
By 300-400%, does it mean that if you put in 2%, they would put in 6-8%? That would be 300-400% of 2%. That would also make a lot more sense
Posted on 2/17/16 at 3:01 pm to TheIndulger
Sole practitioner LLC - solo 401K. My 'company' can match up to $35K this year in addition to my $18K contribution 
Posted on 2/17/16 at 3:04 pm to Shepherd88
NFL has a player's pension plan based on years in the league. It also offers a 401k that puts in $2 for every $1 the player contributes.
Posted on 2/17/16 at 3:11 pm to Rouge
quote:
claimed that NFL matched 300-400% of players' 401K contributions
Sadly, I bet very little take advantage of this, if accurate.
Posted on 2/17/16 at 3:12 pm to Rouge
Certain oil company gives you 8% off the bat, and matches 100% up to 10% contribution. Not sure if that's still the case.
Posted on 2/17/16 at 3:19 pm to Rouge
My company is matching 25% percent of contributions...no cap 
Posted on 2/17/16 at 3:22 pm to OMapologist
quote:
Not saying it's the best, but my company matches 25 cents on the dollar up to 15%.
It's not a great match, but the plan is a good incentive to really save for retirement.
Honestly, that plan fricking sucks.
For example, we'll use my average run of the mill plan on $100,000 salary. My plan matches 100% to 3% and 50% up to 5%.
If I put in the full 5% I put in $5,000 and get $4,000 from the company.
If you put in 15% of 100,000, you have to put in $15,000 and your company only throws in $3,750.
That sucks man. I'd complain.
This post was edited on 2/17/16 at 3:23 pm
Posted on 2/17/16 at 3:24 pm to OMapologist
quote:
It's not a great match, but the plan is a good incentive to really save for retirement.
What a bunch of a-holes. What if a 401K is the ideal retirement plan for every employee. It's actually more of an incentive for the company not to match. I mean just give dollar for dollar up to 4%.
Posted on 2/17/16 at 3:24 pm to lilsnappa
quote:
My company is matching 25% percent of contributions...no cap
Again, doesn't sound that great.
If you max out your contribution of 18,000, you will receive $4,500.
If I put in $5,000, I get $4,000 (as previously stated 100% up to 3% and 50% up to 5%). If I put in 18,000, I still have $4,000 or only $500 less.
I mean, you still win, but it isn't a Trump YUUUUUGE win.
This post was edited on 2/17/16 at 3:28 pm
Posted on 2/17/16 at 3:27 pm to TigerDeBaiter
quote:
Sadly, I bet very little take advantage of this, if accurate.
Not much to take advantage of. They can still only put in the max of $18,000 a year. Many guys can hit that with one or two game checks.
Edit: It's still great to be able to max out your retirement account at less than 24 years old in some players cases.
This post was edited on 2/17/16 at 3:29 pm
Posted on 2/17/16 at 3:29 pm to Big Saint
quote:
Not much to take advantage of. They can still only put in the max of $18,000 a year. Many guys can hit that with one or two game checks.
I mean, compared to millions of dollars it isn't anything.
However, maxing to 18,000 probably makes the NFL give the full employer match up to the total limit of $53,000 a year.
That's pretty nice to have if they can stay in the league long, which as we know, 90% don't. Longevity is definitely the issue with NFL 401ks. I think most players are out of the league in 3 years, so that's only 159k total contribution. So here is hoping they get another job with a 401k plan.
This post was edited on 2/17/16 at 3:31 pm
Posted on 2/17/16 at 3:38 pm to Big Saint
quote:
Not much to take advantage of. They can still only put in the max of $18,000 a year. Many guys can hit that with one or two game checks.
Relatively speaking no, but nothing beats free money.
Posted on 2/17/16 at 3:39 pm to Teddy Ruxpin
quote:
Teddy Ruxpin
Agreed, your plan is pretty sweet, but the overall $$ value to me is great.
If I max out, I get $500 more, which is a win for me.
Posted on 2/17/16 at 3:52 pm to lilsnappa
I've got matching 401k up to 5%, and a year end profit sharing typically in the range of 8-12%
Posted on 2/17/16 at 3:52 pm to lilsnappa
quote:
Agreed, your plan is pretty sweet, but the overall $$ value to me is great.
If I max out, I get $500 more, which is a win for m
My plan isn't that sweet.
This thread is about "Best 401k matches you have heard of"
The plans I responded to are markedly pedestrian and require people to put up more money to get the same contribution as my average plan.
That is what I'm posting about.
I want to see a real amazing plan (outside of NFL plans we can never get).
This post was edited on 2/17/16 at 3:54 pm
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