# How much do you put away into your 401(k) account? **URL:** \ **Category:** In My Humble Opinion\ **Created:** [November 15, 2004, 3:44pm UTC](https://boards.straightdope.com/t/how-much-do-you-put-away-into-your-401-k-account/274866 "2004-11-15T15:44:18Z")\ **Posts on this page:** 20\ **Page:** 2
**Author:** ![missbunny](https://avatars.discourse-cdn.com/v4/letter/m/76d3ee/32.png) [@missbunny](https://boards.straightdope.com/u/missbunny)\ **Post date:** [November 15, 2004, 6:08pm UTC](https://boards.straightdope.com/t/how-much-do-you-put-away-into-your-401-k-account/274866/21 "2004-11-15T18:08:36Z")
As if I didn’t already know, my company has the worst match of anyone who has posted yet: 50% of up to the first 3%. So if you contribute 3%, they match 1.5%. If you contribute 1%, they only match 0.5%. I’ve been telling them our match SUCKS but apparently it’s not getting through. Maybe I should print out this thread and show them a representative sampling. Man, I’d love to get 5% matched. ---
**Author:** ![Bosda\_Di\_Chi\_of\_Tricor](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/bosda_di_chi_of_tricor/32/16845_2.png) [@Bosda\_Di\_Chi\_of\_Tricor](https://boards.straightdope.com/u/Bosda_Di_Chi_of_Tricor)\ **Post date:** [November 15, 2004, 6:15pm UTC](https://boards.straightdope.com/t/how-much-do-you-put-away-into-your-401-k-account/274866/22 "2004-11-15T18:15:36Z")
> [@missbunny](#): > > As if I didn’t already know, my company has the worst match of anyone who has posted yet: 50% of up to the first 3%. So if you contribute 3%, they match 1.5%. If you contribute 1%, they only match 0.5%. > > I’ve been telling them our match SUCKS but apparently it’s not getting through. Maybe I should print out this thread and show them a representative sampling. Man, I’d love to get 5% matched. Whiner. Our **maximum** matching is $20 I put in 6%, plus my munificent $20 match. :smack: Welcome to employment with the Tennessee State Government. ☹ :mad: ---
**Author:** ![missbunny](https://avatars.discourse-cdn.com/v4/letter/m/76d3ee/32.png) [@missbunny](https://boards.straightdope.com/u/missbunny)\ **Post date:** [November 15, 2004, 6:17pm UTC](https://boards.straightdope.com/t/how-much-do-you-put-away-into-your-401-k-account/274866/23 "2004-11-15T18:17:19Z")
Oh my god, that is really awful. Do they have a state retirement plan too? That really really sucks. ---
**Author:** ![AsecretK](https://avatars.discourse-cdn.com/v4/letter/a/7ab992/32.png) [@AsecretK](https://boards.straightdope.com/u/AsecretK)\ **Post date:** [November 15, 2004, 6:21pm UTC](https://boards.straightdope.com/t/how-much-do-you-put-away-into-your-401-k-account/274866/24 "2004-11-15T18:21:25Z")
5% - age 35, no company match ---
**Author:** ![Bosda\_Di\_Chi\_of\_Tricor](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/bosda_di_chi_of_tricor/32/16845_2.png) [@Bosda\_Di\_Chi\_of\_Tricor](https://boards.straightdope.com/u/Bosda_Di_Chi_of_Tricor)\ **Post date:** [November 15, 2004, 6:23pm UTC](https://boards.straightdope.com/t/how-much-do-you-put-away-into-your-401-k-account/274866/25 "2004-11-15T18:23:37Z")
> [@missbunny](#): > > Oh my god, that is really awful. Do they have a state retirement plan too? That really really sucks. Yes, they have a pension fund. Which is controlled by a Board, **not** by the Legislature. Those bums can’t get their dirty hands on it. ---
**Author:** ![igloorex](https://avatars.discourse-cdn.com/v4/letter/i/858c86/32.png) [@igloorex](https://boards.straightdope.com/u/igloorex)\ **Post date:** [November 15, 2004, 6:26pm UTC](https://boards.straightdope.com/t/how-much-do-you-put-away-into-your-401-k-account/274866/26 "2004-11-15T18:26:35Z")
6% (max that gets matched). The match is $0.50 on the dollar, so I have 9% of salary going in. ---
**Author:** ![USCDiver](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/uscdiver/32/354_2.png) [@USCDiver](https://boards.straightdope.com/u/USCDiver)\ **Post date:** [November 15, 2004, 6:33pm UTC](https://boards.straightdope.com/t/how-much-do-you-put-away-into-your-401-k-account/274866/27 "2004-11-15T18:33:59Z")
5% - no match until January when I get 100% (up to 5%). I am thinking of upping it, but I’m also saving to pay into my Roth IRA while I still can. Age 26 ---
**Author:** ![kidchameleon](https://avatars.discourse-cdn.com/v4/letter/k/898d66/32.png) [@kidchameleon](https://boards.straightdope.com/u/kidchameleon)\ **Post date:** [November 15, 2004, 6:45pm UTC](https://boards.straightdope.com/t/how-much-do-you-put-away-into-your-401-k-account/274866/28 "2004-11-15T18:45:59Z")
11% with a 4.5% company match. ---
**Author:** ![iamthewalrus\_3](https://avatars.discourse-cdn.com/v4/letter/i/258eb7/32.png) [@iamthewalrus\_3](https://boards.straightdope.com/u/iamthewalrus_3)\ **Post date:** [November 15, 2004, 6:52pm UTC](https://boards.straightdope.com/t/how-much-do-you-put-away-into-your-401-k-account/274866/29 "2004-11-15T18:52:43Z")
My employer does not match any. Right now, I’m putting 30% in. But that’ll change after the new year because putting that much in would take me over the yearly max. I’m 22. ---
**Author:** ![Pablito](https://avatars.discourse-cdn.com/v4/letter/p/ed655f/32.png) [@Pablito](https://boards.straightdope.com/u/Pablito)\ **Post date:** [November 15, 2004, 7:09pm UTC](https://boards.straightdope.com/t/how-much-do-you-put-away-into-your-401-k-account/274866/30 "2004-11-15T19:09:16Z")
My employer HAS no 401(k) plan, but they do contribute an amount equalling 9% of income to a defined benefits plan, with no contributions by employee possible. I have a couple of other retirement vehicles set up (403(b) and a roth IRA) and contribute about 3.5% of my salary to them. Wish it could be much more! ---
**Author:** ![romansperson](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/romansperson/32/17100_2.png) [@romansperson](https://boards.straightdope.com/u/romansperson)\ **Post date:** [November 15, 2004, 7:38pm UTC](https://boards.straightdope.com/t/how-much-do-you-put-away-into-your-401-k-account/274866/31 "2004-11-15T19:38:09Z")
I put 5% in the 401(k), no matching. Another 6% is forcibly wrested from my check and placed in the state employee pension plan. We also have a 403(b) and a 457 we can contribute to but I thought the 401(k) was the best of the three. ---
**Author:** ![Jammer](https://avatars.discourse-cdn.com/v4/letter/j/df705f/32.png) [@Jammer](https://boards.straightdope.com/u/Jammer)\ **Post date:** [November 15, 2004, 9:45pm UTC](https://boards.straightdope.com/t/how-much-do-you-put-away-into-your-401-k-account/274866/32 "2004-11-15T21:45:42Z")
I just adjusted mine to 10% up from approx. 8%. The company also matches 3% of annual salary (not contribution) regardless of whether one contributes or not, so that is a nice kicker. Jammer ---
**Author:** ![Dangerosa](https://avatars.discourse-cdn.com/v4/letter/d/22d042/32.png) [@Dangerosa](https://boards.straightdope.com/u/Dangerosa)\ **Post date:** [November 15, 2004, 9:47pm UTC](https://boards.straightdope.com/t/how-much-do-you-put-away-into-your-401-k-account/274866/33 "2004-11-15T21:47:41Z")
12% of mine - 50% match to 6%. Which brings me to the legal limit. 38 Brainiac4 doesn’t do 401k as it isn’t worth it for him (weird rules). He does put 10% of his in deferred compensation. 39 ---
**Author:** ![gigi](https://avatars.discourse-cdn.com/v4/letter/g/a587f6/32.png) [@gigi](https://boards.straightdope.com/u/gigi)\ **Post date:** [November 15, 2004, 10:07pm UTC](https://boards.straightdope.com/t/how-much-do-you-put-away-into-your-401-k-account/274866/34 "2004-11-15T22:07:18Z")
I believe ours is a 401(a): my contribution: 10% of my salary (age 36) Employer contributes (vested after three years): age 21-29 3% 30-34 5% 35 and up 10% Only nice thing about turning 35 was that note from HR Benefits! ---
**Author:** ![delphica](https://avatars.discourse-cdn.com/v4/letter/d/e9a140/32.png) [@delphica](https://boards.straightdope.com/u/delphica)\ **Post date:** [November 15, 2004, 10:18pm UTC](https://boards.straightdope.com/t/how-much-do-you-put-away-into-your-401-k-account/274866/35 "2004-11-15T22:18:59Z")
Mine isn’t a 401(k) but it’s some other number type thingy that’s roughly the same deal as a 401(k). You can tell how up on this I am. Anyway, I put in 10%, and my employer matches 50% of that contribution, for a total of 15% going in each year. ---
**Author:** ![Kat](https://avatars.discourse-cdn.com/v4/letter/k/b19c9b/32.png) [@Kat](https://boards.straightdope.com/u/Kat)\ **Post date:** [November 16, 2004, 1:01am UTC](https://boards.straightdope.com/t/how-much-do-you-put-away-into-your-401-k-account/274866/36 "2004-11-16T01:01:30Z")
10%, and I believe the company match is 6%. ---
**Author:** ![KellyM](https://avatars.discourse-cdn.com/v4/letter/k/57b2e6/32.png) [@KellyM](https://boards.straightdope.com/u/KellyM)\ **Post date:** [November 16, 2004, 1:35am UTC](https://boards.straightdope.com/t/how-much-do-you-put-away-into-your-401-k-account/274866/37 "2004-11-16T01:35:31Z")
Nothing until after the new year, then we’ll see. I was doing 2% at my last job; just started this one in August and I’m waiting to see how the year pans out (I was self-employed for the first half of the year and my tax situation is complicated, to say the least) before I start making contributions. ---
**Author:** ![jweb](https://avatars.discourse-cdn.com/v4/letter/j/71c47a/32.png) [@jweb](https://boards.straightdope.com/u/jweb)\ **Post date:** [November 16, 2004, 2:11am UTC](https://boards.straightdope.com/t/how-much-do-you-put-away-into-your-401-k-account/274866/38 "2004-11-16T02:11:49Z")
10%, with the employer matching 6%. I also am putting the max possible ($3000 a year/$250 a month) into a Roth IRA. When (if) I get my promotion and raise, I plan to put the extra money straight into the 401(k). I’m 26. ---
**Author:** ![Nars\_Glinley](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/nars_glinley/32/8177_2.png) [@Nars\_Glinley](https://boards.straightdope.com/u/Nars_Glinley)\ **Post date:** [November 16, 2004, 2:27am UTC](https://boards.straightdope.com/t/how-much-do-you-put-away-into-your-401-k-account/274866/39 "2004-11-16T02:27:15Z")
8% with a 3% match. I’m 41. But at least we have an honest to goodness pension plan. ---
**Author:** ![Lsura](https://avatars.discourse-cdn.com/v4/letter/l/7993a0/32.png) [@Lsura](https://boards.straightdope.com/u/Lsura)\ **Post date:** [November 16, 2004, 2:43am UTC](https://boards.straightdope.com/t/how-much-do-you-put-away-into-your-401-k-account/274866/40 "2004-11-16T02:43:05Z")
_cough_ I’m not sure. But there’s a reason for that. It’s not technically a 401k plan, but an Alternative Retirement Plan (ARP). My other option was the state pension plan, and since I don’t necessarily plan to be here - in the state - until retirement age, it didn’t make sense for me to go with the state plan. There’s a set amount from my check that goes in, and it’s matched by an equal amount (?). Also, AFAIK, the total contribution is equal to what I would pay in SS taxes - but there’s no SS taken out of my check. This is strictly what I remember from my hiring, since I don’t feel like digging the paperwork out of my stack 'o retirement stuff that I’ve gotten since I was hired. [Previous page](https://boards.straightdope.com/t/how-much-do-you-put-away-into-your-401-k-account/274866.md?page=1) [Next page](https://boards.straightdope.com/t/how-much-do-you-put-away-into-your-401-k-account/274866.md?page=3)