Best 401k Match

[Anonymous]

Anonymous wrote:11% and the standard in my sector, which includes a lot of very established Fortune 200-300 companies, is 10-12%

I don’t know where these 20-25% comes from but that seems totally unsustainable - either because they’re paying market rate base and won’t be able to keep up that level of match or because they’re lose talent if their base comp isn’t market rate.

I am one of those responses. It is somewhat difficult to establish comparable jobs for the purposes of our org, but there have been no layoffs in the 20 years I have been there, and we never lose people because they are offered higher base comp.

[Anonymous]

20 percent of salary, even if I contribute nothing. Plus, employer pays 100% of health insurance premiums. non-profit organization.

[Anonymous]

I used to work for a charity that matched 100%.

[Anonymous]

Google I think does dollar for dollar up to the IRS maximum. So if you put in 22.5k they match 22.5k

I work for a different company that does 50% so I get an $11,250 match and we can also do the mega backdoor Roth conversion

[Anonymous]

Anonymous wrote:Google I think does dollar for dollar up to the IRS maximum. So if you put in 22.5k they match 22.5k

I work for a different company that does 50% so I get an $11,250 match and we can also do the mega backdoor Roth conversion

Never mind I just looked up Google’s and I don’t think it’s that good

[Anonymous]

11% of Total Comp not j salary… Salary + Annual Bonus.

[Anonymous]

Anonymous wrote:

Anonymous wrote:50% up to the max contribution

This is ours too. I'm a new employee and turning 50 this year, curious if this would apply to the catchup contribution but expect that it wouldn't.

Ours does not match the catchup contribution.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Google I think does dollar for dollar up to the IRS maximum. So if you put in 22.5k they match 22.5k

I work for a different company that does 50% so I get an $11,250 match and we can also do the mega backdoor Roth conversion

Never mind I just looked up Google’s and I don’t think it’s that good

Google does the same 50% match as your company, also the mega backdoor Roth.

[Anonymous]

Anonymous wrote:11% of Total Comp not j salary… Salary + Annual Bonus.

That is really good. Both the match and fact includes bonus

[Anonymous]

Let’s say you make $280K and your match is 10% of salary (so $28K in employer matching funds). You can only contribute up to $22.5K in a 401K.

Do you lose out on the excess matching funds above the $22.5K threshold?

[Anonymous]

50% of every dollar you contribute

I work at a small (150!or so employees?)! government contractor.

I have maxed out for 19 years.

[Anonymous]

Anonymous wrote:Let’s say you make $280K and your match is 10% of salary (so $28K in employer matching funds). You can only contribute up to $22.5K in a 401K.

Do you lose out on the excess matching funds above the $22.5K threshold?

No. $22.5k is the 402(g) limit on elective (i.e., your) deferrals. The sum of employer + employee contributions is subject to a different statutory limit (415(c) in the Internal Revenue Code), which for 2023 is $66,000.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Let’s say you make $280K and your match is 10% of salary (so $28K in employer matching funds). You can only contribute up to $22.5K in a 401K.

Do you lose out on the excess matching funds above the $22.5K threshold?

No. $22.5k is the 402(g) limit on elective (i.e., your) deferrals. The sum of employer + employee contributions is subject to a different statutory limit (415(c) in the Internal Revenue Code), which for 2023 is $66,000.

And all of this explains why some DCUM report so much more in their 401ks. It always boggled my mind how people could have so much saved at early ages, but if people are getting the matches and contributions reported on this thread (or not even needing to contribute), well, some of this is nuts to me as someone who gets about 3% a year match in a 403b.

[Anonymous]

Anonymous wrote:Ah, now it makes sense how people get multimillion dollar 401ks by their 30s on DCUM. People need to post their matches when they post this stuff.

I get 50% of the first 6% of income, so 3% in the end. At $120k income this is a few grand a year.

Yeah, same, 50 percent of first 6 percent. I do also get a 3 percent pension contribution, but at most, I'll have worked at this company for about 25-30 years total if I stay here until I retire, so I'm just considering that as basically a lump-sum future IRA rollover. Some of these matches are really remarkable.

[Anonymous]

My sister works for a college. If she puts in 6% they match 19%. Not a typo.