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401K match - Mtr


Posted: Mar 12, 2012

If there is anyone who understands the 401K match, can they give us a sample, ie, if you gross 1000 per pay period what the 25% of the first 4% would be and how much you could expect.  The way I do it, I would get 80 cents, so hoping I'm wrong.

401K match - Radmt

[ In Reply To ..]
It depends on how much you have allocated to go into your 401K. You tell them how much percent you want to deduct from your paycheck and then they will given you 25% additional up to 4%. I put in 6% every pay, so they will only match 25% up to 4%....

401K Match - MTr

[ In Reply To ..]
I think I got it. So if someone makes $1000 a pay period and even if they allocate 10%, it would only be 4% that would be matched, so it would be 1000 x 4%, which is $40, then 25% of that would be $10, so they would match $10 - right?

here is a sample - skeptical

[ In Reply To ..]
If you gross $1000 per pay period then your 4% would come off the top meaning $40. Then the company would match 25% of that $40-- they would add $10 to your 401K fund. So for every pay period (assuming you average 1000) you would have $50 put into your 401K (40 from you and 10 provided by the company).

It is better than what they were matching before (a big fat zero) but at the slave waves they pay us 4% is nothing really.

401K match - Minnie

[ In Reply To ..]
If you gross 1000, 4% would be 40 that you contribute, and 25% of your contribution, which is 10, is what they will contribute. Better than nothing I guess, but really, can't they afford to match 100% of your contribution.

The other thing to consider, though... - sm

[ In Reply To ..]
that your contribution to your 401k is taken before taxes, thereby lowering what goes to the gov't every year and increasing what you can save. I always put in the maximum that will be matched, if not more.


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