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:
Oh my god, that is really awful. Do they have a state retirement plan too? That really really sucks.
5% - age 35, no company match
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.
6% (max that gets matched). The match is $0.50 on the dollar, so I have 9% of salary going in.
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
11% with a 4.5% company match.
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.
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!
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.
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
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
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!
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.
10%, and I believe the company match is 6%.
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.
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.
8% with a 3% match. I’m 41. But at least we have an honest to goodness pension plan.
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.