How rare is this 401k match:

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Jul 19, 2017
2:00:34pm

BeyondTheMark All-American

How rare is this 401k match:

I am considering a job with a company that matches 5% of your salary into the 401k whether you put a dime in or not, and further matches money you actually put in yourself up to a larger percentage that I can't remember at the moment.

All my jobs up to this point require you to contribute to get any match...

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BeyondTheMark

Previous username: AtlantaMark
Bio page: BeyondTheMark
Joined: Aug 20, 2001
Last login: May 3, 2024
Total posts: 15,398 (219 FO)

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Messages

Author

Time

How rare is this 401k match:

7/19/17 2:00pm

The first 5% isn't a match, it's just a contribution.

Ozymandias

7/19/17 2:01pm

very....take it to the bank

Nat Gas Man

7/19/17 2:02pm

Well, it is a bank

7/19/17 2:46pm

very rare. that's a great deal.

smokymountainrain

7/19/17 2:02pm

My company gives 3% and matches up to an additional 4%

gmj81

7/19/17 2:04pm

Mine gives 6% and matches up to 4% (half of up to 8%)

supertux

7/19/17 2:42pm

so...that's 20% if you just contribute 8%? Wow.

Avery

7/19/17 2:56pm

18% if I contribute 8%

supertux

7/19/17 2:58pm

Never heard of such a thing. Very nice.

Backcountry

7/19/17 2:06pm

My company provides a 3-8% wealth contribution (not a match)

7/19/17 2:08pm

I am in for the long haul because mine contributes 15%

CoastalCoug

7/19/17 2:09pm

Wow!

rggee

7/19/17 2:10pm

Mine does 2.5-4.0% contribution (no matching required) plus 4.5% matching.

rggee

7/19/17 2:09pm

My previous employer had a very similar setup. ~3% cont. + 5% matching or so.

rggee

7/19/17 2:12pm

The contribution part will not vest until 3 years into my employment, however.

rggee

7/19/17 2:14pm

I'm in just about the same boat

jbcoug

7/19/17 2:18pm

My company has no match but has a similar contribution like yours that is a % of

cheezedawg

7/19/17 2:12pm

That's like a $2,200/yr (almost) pay bump, pretty sweet. Wonder how it's taxed?

7/19/17 2:13pm

Pre-tax unless you put it in a Roth 401K.

rggee

7/19/17 2:14pm

employer contribution still pre-tax even in Roth vehicle

lukeskywalker

7/19/17 2:15pm

Good to know. They'll be taxed when you pull them out just like a traditional

rggee

7/19/17 2:17pm

See, that's where they get you. You can never avoid the tax man. I'd probably

7/19/17 2:27pm

rare for large employer

lukeskywalker

7/19/17 2:16pm

That's good, but I'm going to contribute more than 5% regardless so I'm

jensen46

7/19/17 2:17pm

The max is the same for all ($18k iirc) and doesn't count company contributions

gmj81

7/19/17 2:49pm

When I say I'm more interested in the max, I mean I'm more interested

jensen46

7/19/17 2:59pm

FYI- direct employer contributions are not under the 401k structure, and the

cheezedawg

7/19/17 4:08pm

great deal - I used to be with a company that gave almost the same

Avery

7/19/17 2:21pm

Unheard of in my experience.

Kerbouchard

7/19/17 2:26pm

It's really only a good deal if they are paying you within 5 percent of market

Josef K

7/19/17 2:27pm

That's how my company does it. 5% automatic contribution and 100% match to 5%

NarfUte

7/19/17 2:40pm

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