Employer Contributions Poll

[dgoldm1287]

Hi All.

I am finally eligible for my company 401 (k) at a small CPA firm in Wyoming (40 employees). The firm provides a 50% match plus an additional 3% of your salary. My prior firm, based in Baltimore, employed 300+ employees and provided a 3% match. Another added benefit is that my salary is higher in Wyoming then it was in Baltimore and there are no state income taxes.

I have elected to maximize my contributions at $18,000. Therefore, my match will be $9,000 plus an additional 3% of salary.

Please fill out the survey and feel free to add any comments regarding your firm size and past matches. I would be especially interested to find out if others had a similar experience between job benefits and salary when moving to a small town (better benefits, salary, etc.).

Best regards,
GoldStache

[MetalCap]

GS,

Wow that is an awesome match.  I find in my industry (construction) matches are around 3-5%  I was wowed when I heard of an 8% match.  Sounds like you've got the right idea to max out.  One other idea might be to look at adding to a Roth since you have less taxes (no state), especially if you plan on moving to a state with tax.

Congrats again.

MC

[divsnowball]

There is a large university here that matches up to 9%!!

[Scandium]

Not sure how to vote. My employer does a flat 10% of my salary, no matter what I contribute. This is the first year I'm maxing out and adding $25K+ to the account every year will be sweet.


edit: engineering/consulting  firm. ~400 people.

[sheepstache]

I'm never sure how to answer this. I work in a non-profit education institution in a big city. The employer contributes 8% of your salary regardless of whether you contribute anything. Before this I hadn't worked at a place with a 401k.

[NinetyFour]

I am also unsure how to respond, as my employer contributes 11.4% and I contribute 8%.  These percentages are fixed by my employer.

[FoundPeace]

My employer matches 6% of my contribution and they add another % based on your age. If you are near normal retirement age I think they contribute an additional 5-6%, but for me they add an additional 3%.

[Gone Fishing]

I think there is some confusion with the poll question. My employer matches 100% of my contribution up to 6% of my salary.

[Scandium]

I think there is some confusion with the poll question. My employer matches 100% of my contribution up to 6% of my salary.

yeah. Are the percentages of my salary, or percentage match of my contribution?

[I'm a red panda]

I can't answer the poll either. We don't have a match, we have a mandated contribution, participation is required. Employer puts in 13% and employee puts in 2%. 

[JLee]

Wow, a lot of you guys have a large contribution.

I get 50% of my contribution with a 6% limit, so effectively 3% of my salary.

[boarder42]

Hi All.

I am finally eligible for my company 401 (k) at a small CPA firm in Wyoming (40 employees). The firm provides a 50% match plus an additional 3% of your salary. My prior firm, based in Baltimore, employed 300+ employees and provided a 3% match. Another added benefit is that my salary is higher in Wyoming then it was in Baltimore and there are no state income taxes.

I have elected to maximize my contributions at $18,000. Therefore, my match will be $9,000 plus an additional 3% of salary.

Please fill out the survey and feel free to add any comments regarding your firm size and past matches. I would be especially interested to find out if others had a similar experience between job benefits and salary when moving to a small town (better benefits, salary, etc.).

Best regards,
GoldStache

who voted on the 51% match.  if its you i dont think we are comparing apples to apples as you get a 9k match plus 3% of your salary so probably around 13-16% would be your match in terms of how this is usually calculated. 

[dgoldm1287]

I hadn't voted at that time. I edited the poll to eliminate confusion. The poll was intended for the employer match of your contribution (excluding profit sharing, employer contribution based on salary, etc.).

I hope this helps to clarify.

[aspiringnomad]

I hadn't voted at that time. I edited the poll to eliminate confusion. The poll was intended for the employer match of your contribution (excluding profit sharing, employer contribution based on salary, etc.).

I hope this helps to clarify.

Clear as mud.

[nanu]

Mine (or future one, after I graduate) does 100% matching up to $3k OR 50% matching, whichever is higher.
So if I put in $18k (which I plan to), employer puts in $9k.

[Gone Fishing]

I think there is some confusion with the poll question. My employer matches 100% of my contribution up to 6% of my salary.

But since I am contributing 35% of my salary at the moment, my employer is only matching 17% of my contribution, but once I max out my portion, they will continue contributing at a 6% rate (of my salary)on a 0% percent contribution so...what percentage is that?

[ZiziPB]

I have no idea how to answer the poll but my employer contributes 2% of my salary (irrespective of employee contributions) plus matches 100% up to 6% of my salary. So a total employer contribution is 8%.  I contribute another 12% (by choice) so a total of 20% goes into my 401k ;-)

[Philociraptor]

Poll still doesn't make sense. Employer matches 100% up to 6% of salary. I'm currently contributing 25% of salary to 401(k). So They match 6%/25% = 17%?

[JLee]

Poll still doesn't make sense. Employer matches 100% up to 6% of salary. I'm currently contributing 25% of salary to 401(k). So They match 6%/25% = 17%?

If your employer matches 100% up to 6% of salary, I would say that's a 6% match.

[Philociraptor]

Poll still doesn't make sense. Employer matches 100% up to 6% of salary. I'm currently contributing 25% of salary to 401(k). So They match 6%/25% = 17%?

If your employer matches 100% up to 6% of salary, I would say that's a 6% match.

I would too, but the poll phrasing doesn't match up with that.

[JLee]

Poll still doesn't make sense. Employer matches 100% up to 6% of salary. I'm currently contributing 25% of salary to 401(k). So They match 6%/25% = 17%?

If your employer matches 100% up to 6% of salary, I would say that's a 6% match.

I would too, but the poll phrasing doesn't match up with that.

Hah, yeah. I just re-read it.

[rampagefc]

My employer contributes 3% regardless of my contributions, and then up to an additional 1-3% profit sharing (after 10 years service this increases to 4%). So max would be 6-7% regardless of my contributions. Minimum would be 4%.

Looks like some people in here have some awesome retirement matching! I'm envious.