Anonymous
Post 06/15/2023 23:22     Subject: Best 401k Match
My sister works for a college. If she puts in 6% they match 19%. Not a typo.
Anonymous
Post 06/15/2023 18:25     Subject: Best 401k Match
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
Post 06/15/2023 14:47     Subject: Best 401k Match
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
Post 06/15/2023 09:51     Subject: Best 401k Match
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
Post 06/15/2023 08:28     Subject: Best 401k Match
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
Post 06/15/2023 07:07     Subject: Best 401k Match
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
Post 06/15/2023 05:30     Subject: Re:Best 401k Match
Anonymous wrote:11% of Total Comp not j salary… Salary + Annual Bonus.


That is really good. Both the match and fact includes bonus
Anonymous
Post 06/15/2023 00:15     Subject: Best 401k Match
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
Post 06/14/2023 20:55     Subject: Best 401k Match
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
Post 06/14/2023 18:36     Subject: Re:Best 401k Match
11% of Total Comp not j salary… Salary + Annual Bonus.
Anonymous
Post 06/14/2023 18:35     Subject: Best 401k Match
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
Post 06/14/2023 18:33     Subject: Best 401k Match
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
Post 06/14/2023 18:29     Subject: Re:Best 401k Match
I used to work for a charity that matched 100%.
Anonymous
Post 06/14/2023 18:01     Subject: Best 401k Match
20 percent of salary, even if I contribute nothing. Plus, employer pays 100% of health insurance premiums. non-profit organization.
Anonymous
Post 06/14/2023 16:55     Subject: Best 401k Match
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.