Author Topic: How much does your company match for your 401k?  (Read 40067 times)

Myrmida

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Re: How much does your company match for your 401k?
« Reply #50 on: July 03, 2013, 05:19:38 PM »
It's an employee share purchase plan.  I contribute 10% of my base salary, and my employer contributes 1.5x that, which vests over a 3-year period.

Spork

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Re: How much does your company match for your 401k?
« Reply #51 on: July 03, 2013, 05:52:55 PM »
Mine matches 50% up of up to 6%.  So... 3% match on 6% contribution.  Not the greatest, but better than a sharp stick in the eye.

Chowder

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Re: How much does your company match for your 401k?
« Reply #52 on: July 03, 2013, 07:12:08 PM »
100% of the first 75% of my salary. Generous to say the least.

Iceplant18

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Re: How much does your company match for your 401k?
« Reply #53 on: July 03, 2013, 09:41:36 PM »
80% up to 6% of pay excluding overtime.  Plus a pension that puts in roughly the equivalent of 5% of pay. 

zinnie

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Re: How much does your company match for your 401k?
« Reply #54 on: July 03, 2013, 10:59:31 PM »
Half of up to 5%, so an extra 2.5%. I've seen much better!

JahWontPaytheBills

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Re: How much does your company match for your 401k?
« Reply #55 on: July 03, 2013, 11:09:40 PM »
Mine doesn't match at all to my 401k. They do give $7.34 for each hour I work toward my pension, though.

NWstubble

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Re: How much does your company match for your 401k?
« Reply #56 on: July 03, 2013, 11:15:33 PM »
0% match.  It used to be 1% but was eliminated due to budget problems.  Whenever I get upset about this I look out my window and watch the new building being constructed...

Similar situation here. Matching eliminated this year due to tight budget, i.e. shifting monetary priorities from matching to fund new program that isn't bringing any money in the door yet. Maybe next year they will reinstate. Previously 100% match of first 4%.

GreenGuava

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Re: How much does your company match for your 401k?
« Reply #57 on: July 04, 2013, 11:27:17 AM »
Previous did 100% of first 3%, 50% of next 2% - seemingly a common policy.

My new one does 10% match, but only the first 6.25% is immediately vested;  the rest vests over (I think) a three year period.  The way I see it, this is a great matching right away, and then as I'm there longer, the match effectively grows. 

stinkindog

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Re: How much does your company match for your 401k?
« Reply #58 on: July 04, 2013, 05:52:21 PM »
i have a mandatory 6% contribution and they kick in 18.89%. it is in a CERS (county employee).

NumberCruncher

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Re: How much does your company match for your 401k?
« Reply #59 on: July 05, 2013, 09:03:35 AM »
Mine essentially works out to 10%

They put in 7.5% for the required 2%, then they match 1/4 of up to another 10% of base salary. Immediately vested, but they don't start contributions until you've worked there a year. They used to not have the one year limit, and they used to match 1/3 of the up to 10%, but it's still pretty good.

beeth_oven

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Re: How much does your company match for your 401k?
« Reply #60 on: July 08, 2013, 11:22:50 AM »
100% up to 6%.

1tolivesimply

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Re: How much does your company match for your 401k?
« Reply #61 on: July 08, 2013, 04:19:23 PM »
100% up to 4% + 50% up to 6%.

ritchie70

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Re: How much does your company match for your 401k?
« Reply #62 on: July 08, 2013, 06:04:00 PM »
For the first one percent, they match 3 dollars for every dollar contributed. Then one for one for the next 4%.

Who? McDonald's Corp.

MoneyLifeandMore

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Re: How much does your company match for your 401k?
« Reply #63 on: July 08, 2013, 08:06:21 PM »
I get a 4% match dollar for dollar. Not great, but better than the people that get nothing or less. I'll take any free money I can get!

Researcher

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cynthia1848

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Re: How much does your company match for your 401k?
« Reply #65 on: July 09, 2013, 08:43:06 AM »
4%, dollar for dollar.  I used to work for several places with no matching, so this is an improvement.

acanthurus

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Re: How much does your company match for your 401k?
« Reply #66 on: July 09, 2013, 11:35:08 AM »
The formula is a little complicated, but at my new employer it works out to 9%, and fully vests in 2-3 years. It's one of the best 401ks I've ever had.

Now my last company's 401k was garbage. I had to pay 2% in fees just to be in an S&P 500 index fund, and they only matched 50% up to 6% (so 3% total), and the match took six years to vest. The index fund had a 0.65% expense ratio but you had to pay a 1.35% separate account fee if you wanted to be in anything other than the 'guaranteed value' investment option that paid out 2.5% with no principal risk. To be fair, that one option was decent, maybe better than a bond fund in the current environment due to no interest rate risk, but not for young people who want to be mostly in stocks.

Needless to say the old company's 401k is getting rolled over into a Rollover IRA at Vanguard and I'll be enjoying the 0.05% VTSAX expense ratio very soon.

lifepopsicle

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Re: How much does your company match for your 401k?
« Reply #67 on: July 09, 2013, 11:55:21 AM »
Wow, some of yours are really good! My current company matches 3% with 100% and 50% with 2% immediately upon employment, but I'm changing to a job that only offers 1% matching and I have to wait a year for it to start! Eeek! Hopefully it's worth the loss to have a job I'll enjoy more...

adesertsky

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Re: How much does your company match for your 401k?
« Reply #68 on: July 09, 2013, 12:27:57 PM »
I get 50% of my first 6% (3% total).

My husband is in academia and gets an amazing 5% no matter what plus another 100% match on up to 5%- basically they are giving 10% of his salary to 401K plus his contributions, which is awesome.

Michelle119

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Re: How much does your company match for your 401k?
« Reply #69 on: July 10, 2013, 06:22:05 PM »
My husband gets:

100% match of the first 3%
50% match of the next 2%

So essentially 4% on the first 5%. He also get company stock and right now he is getting an additional 5% of that on the 5%

kelly1mm

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Re: How much does your company match for your 401k?
« Reply #70 on: July 10, 2013, 08:13:05 PM »
125% up to 6% of gross .... so basically if I put in 6% the company puts in 7.5% for a total of 13.5%.

cdub

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Re: How much does your company match for your 401k?
« Reply #71 on: July 11, 2013, 03:43:09 PM »
0% I'm self employed. I'm currently putting 15% of my gross into a SEP-IRA.

Since I want to retire early it doesn't make sense to me to put any more than that. I'll do the rest to pay off my mortgage early and then into a taxable account in addition to the 15% SEP-IRA.

billkatt

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Re: How much does your company match for your 401k?
« Reply #72 on: July 11, 2013, 06:45:49 PM »
200% match on the first 2%, 50% match on the next 4%, and a 3% annual contribution  (salary and bonus)

ToeInTheWater

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Re: How much does your company match for your 401k?
« Reply #73 on: July 11, 2013, 07:43:03 PM »
8% match when contributing at least 2% of pay.  Adds up, eventually.

exactly the same here.  by chance, do we work for the SAME company? 
i work in the HQ in Carmel, IN

b

easyrider

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Re: How much does your company match for your 401k?
« Reply #74 on: July 11, 2013, 07:53:50 PM »
I contribute 6%, they contribute 10%.   I knew it was generous but after reading here I realize how lucky I am.

islndstrm

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Re: How much does your company match for your 401k?
« Reply #75 on: July 12, 2013, 08:34:58 AM »
Like all federal employees, I get a 5% match to the TSP.

+1

Bill76

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Re: How much does your company match for your 401k?
« Reply #76 on: July 12, 2013, 12:39:59 PM »
My employer matches 75% of the first 6% of base salary that I contribute.  So 4.5%.

They also contribute 6% of my salary to a cash balance pension plan.

badassprof

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Re: How much does your company match for your 401k?
« Reply #77 on: July 12, 2013, 12:51:22 PM »
If I put in 3%, company puts in 8.5.  Husband gets 5% plus stock every year and bonuses, which are also figured in the 401k mix.

We started maxing our 401ks a few years ago since the trend seems to be to cut back on these contributions in order to save money.   Indeed, my institution (I'm an academic) used to contribute 5% without an employee contribution and 10% with a 3% contribution.

rufflina

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Re: How much does your company match for your 401k?
« Reply #78 on: July 12, 2013, 01:08:25 PM »
@Katnina, I'm impressed by your hedge fund! I think I'm maybe in second place so far:

100% of your contributions up to the match amount of $3,000 or
50% of your contributions up to the match amount of $8,750.

Zee

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Re: How much does your company match for your 401k?
« Reply #79 on: July 12, 2013, 03:39:02 PM »
Dollar for dollar up to 5%.

jexy103

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Re: How much does your company match for your 401k?
« Reply #80 on: July 13, 2013, 02:06:23 AM »
Like all federal employees, I get a 5% match to the TSP.

Another government employee here. It's actually more complicated than that (automatic 1%, then matches the first 3% dollar-for-dollar, then matches half of my 4% and 5%, for a total of 5% if I contribute at least 5%; if I contribute nothing, I still get 1%). Definitely not the best out there, but I'm happy with it and just the fact that it's the TSP is a good thing. DH is active duty military and while he also contributes to the TSP, there is no matching for active duty servicemembers. :-(

Spork

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Re: How much does your company match for your 401k?
« Reply #81 on: July 13, 2013, 06:28:19 AM »
and while he also contributes to the TSP, there is no matching for active duty servicemembers. :-(

That is insane.

randyh1

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Re: How much does your company match for your 401k?
« Reply #82 on: July 15, 2013, 10:00:14 PM »
My company matches 33 1/3% of the first 6% (so 2% max). They also add a 1% incentive if you contribute at least 6%. Then there is an additional "retirement feature" that adds from 3% to 6% based on your age and time with the company. I get the max so a total of 9% company contribution plus what I  contribute myself.

MandyM

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Re: How much does your company match for your 401k?
« Reply #83 on: July 17, 2013, 02:44:37 PM »
I don't get a match, but the company puts in 8% of my salary regardless of my contribution. It starts after 2 years and fully vested from the start. This is a huge improvement over my last job. The only catch is that the 8% isn't guaranteed, it can change (read: reduce) based on profits. Of the people I've talked to, it hasn't changed in the last several years.

FWIW, I'm a civil engineer (in water/wastewater).

wakkowarner

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Re: How much does your company match for your 401k?
« Reply #84 on: September 04, 2013, 01:16:06 PM »
75% of the first 8% of pay (so I contribute 8%, they contribute 6%) with 100% immediate vesting for both contributions.  I also joined the last year that they offered pension benefits.  Kind of hard to say what % the benefits are, depends on how long you work for the company, what age you start collecting, if you have spousal survival, etc.  As it is though, I've been working there for 5 years and would get $500 for the rest of my life if I start collecting at age 65 (I'm 35).  If I stay here for 10 more years, that will increase (estimated) to $1700 per month.  I figure I have about 8 more years till FI, not sure if I will spend all of them at current employer though.

Insanity

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Re: How much does your company match for your 401k?
« Reply #85 on: September 04, 2013, 01:59:04 PM »
I was at one that did 100% up to 6%

Then I went to a 403B that was 100% of 3%, but after tax investment.

Then I wen to a 100% of 1% of 6% or something like that (worked out to be $1 for ever $6).

Now, I am looking at one that does 100% up to 4% or.. an unknown.. or an SEP-IRA...  I'm not quite sure..

livetogive

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Re: How much does your company match for your 401k?
« Reply #86 on: September 04, 2013, 02:26:45 PM »
5% for this corporate drone.  I'll take the free money but it certainly isn't buying my loyalty.

livetogive

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Re: How much does your company match for your 401k?
« Reply #87 on: September 04, 2013, 02:30:30 PM »
and while he also contributes to the TSP, there is no matching for active duty servicemembers. :-(

That is insane.

nah - the definied benefit pension plan for AC is insane.  Not complaining (yet) but I'm curious if it'll still be there when I'm 65.

bo_knows

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Re: How much does your company match for your 401k?
« Reply #88 on: September 04, 2013, 03:16:49 PM »
As part of a series of nickel-and-diming its employees over the past 2 years, my employer got rid of our 4% total 401k match completely on July 1st.  Sigh.

ZiziPB

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Re: How much does your company match for your 401k?
« Reply #89 on: September 04, 2013, 05:20:13 PM »
2% whether you contribute or not plus dollar for dollar match up to 6% you contribute.  This is on the base salary plus bonus which for highly compensated employees can really add up (although at some point you bump into the IRS max permitted contributions).

livetogive

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Re: How much does your company match for your 401k?
« Reply #90 on: September 05, 2013, 09:45:42 AM »
As part of a series of nickel-and-diming its employees over the past 2 years...

My employer does the same thing all the time and I haven't figured out if they're brilliant or idiots.  On the one hand, they've literally destroyed any shred of loyalty I have.  When I find something better I will give 1 hour notice as I walk out.  this will likely happen 2 hours after my bonus check hits my checking account.

On the other hand I'm still here sitting at my desk...

chesebert

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Re: How much does your company match for your 401k?
« Reply #91 on: September 05, 2013, 10:11:47 AM »
10-12hr a day and 0% match - cheap ass firms.

I max out all the tax advantaged accounts anyway.

RMD

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Re: How much does your company match for your 401k?
« Reply #92 on: September 05, 2013, 10:25:01 AM »
Matching contributions are discretionary and
approved by the Board of Directors annually.
The Company will match 100% of the first 3%
of pay you contribute, and 50% of the next 3%
of your regular pre-tax and/or Roth post-tax
contributions to your Plan. The Plan makes
matching contributions each payroll period.
The Catch-up contributions are not matched.

sleepyguy

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Re: How much does your company match for your 401k?
« Reply #93 on: September 06, 2013, 04:14:31 PM »
100% match up to 6% salary.  It's ok i guess.  SO/GF has a much better program of 100% match up to 8% + stock options.

I'm glad my company does have an non-reg and TSFA option and we can use the same index funds offered with pretty low fees (lower then TD eSeries)... Canadians don't have options as US peeps.

Mississippi Mudstache

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Re: How much does your company match for your 401k?
« Reply #94 on: September 06, 2013, 08:28:37 PM »
Mine matches 50% up of up to 6%.  So... 3% match on 6% contribution.  Not the greatest, but better than a sharp stick in the eye.

Same here. Not great, but I'm not complaining either.

scamutz

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Re: How much does your company match for your 401k?
« Reply #95 on: September 07, 2013, 06:41:37 AM »
100% of up to 8% - plus a profit sharing kicker if we make money each quarter that is whatever percentage we make above our goal, it is that percentage of your quarterly earnings in a bonus, and a 401k kicker.  i.e.  Our goal is 3% profit, we make 5% profit....I get 2% of what I made that quarter in my check and in my 401k....and most of my friends are still not contributing - amazing.

Peanut Butter

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Re: How much does your company match for your 401k?
« Reply #96 on: September 07, 2013, 04:00:59 PM »
I work for a "non-profit" hospital, we have a 403b. They match 4% of up to 10% of your contribution, but you must be contributing 4% of your pay minimum before the matching kicks in...and they don't start matching right away, it takes 5 years - first year you get no matching, then it goes up by 1% every year after that until it hits 4%.

oldtoyota

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Re: How much does your company match for your 401k?
« Reply #97 on: September 07, 2013, 04:17:32 PM »
I think it would be interesting to have a database of this sort of info about companies. A database with this info--info you usually can't find out until the interview process--would help potential job seekers eliminate certain companies from consideration.


Zaga

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Re: How much does your company match for your 401k?
« Reply #98 on: September 07, 2013, 05:06:53 PM »
There is a way, see the link below.  It's pretty cool!  Though don't read everything into the score, it may be low for reasons that don't make it a bad plan, like not having high total assets.

http://www.brightscope.com/

Just put the company you're interested in into the Retirement Plan Search field.

oldtoyota

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Re: How much does your company match for your 401k?
« Reply #99 on: September 07, 2013, 06:02:36 PM »
There is a way, see the link below.  It's pretty cool!  Though don't read everything into the score, it may be low for reasons that don't make it a bad plan, like not having high total assets.

http://www.brightscope.com/

Just put the company you're interested in into the Retirement Plan Search field.

I will check that out. Thanks.

Glassdoor.com helps a bit with ratings, but it doesn't tell you what benefits they offer.