401k Match Question

[LivingAlmostLarge]

What is your company's 401k match? Is there a vesting schedule? What is it? Do you think it matches industry standard?

DH's job is a 200% match on the first 3%. So 6% match, immediate vesting so when we leave it's ours. This is typical of the industry. Last job was 4.5% match, also immediately vesting.

[Daylily]

If I contribute 6%, they contribute 3%. 25% vested in the first year, 50% in the second year, etc.

I'd like a higher match but my company is one of the few around that still has a defined benefit pension plan. Even if a person only works for five years and leaves the company after that, there will be a pension for that person. (Crosses fingers that this pension plan won't go away like the pension plan did at my last company).

[atomicrc11]

My company matches dollar for dollar for 6% of your salary up to a maximum of $750/quarter ($3000/year). It is good, but the higher you are compensated less percentage of match you are actually getting. My last company did a dollar for dollar match of 6% no limit, that was great. Neither has a vesting period on the match.

[humandraydel]

50% of the first 8%, immediately vested.

[Hypersion]

I get 50% up to the first 7% of my salary.

I also get a second 401K where the company puts in 2% to 8% depending upon age and length of time at the company.

Both are 100% vesting immediately.

[Snave]

100% on first 4% with immediate vesting. We also have a defined pension plan that has 3 year vesting period. They do a salary match based on age (not tenure). 2% under 25, 3.25% for 25-29, 4.25% for 30-34, 5.5% for 35-40, etc... with increments of 1.25% or so. This maxes at 12%.

[disneysteve]

DW gets 50 cents on the dollar up to 6% of her salary, so a 3% match. She is vested in 2 years.

I have no 401k.

[Snave]

I should ask Maat55 to answer this "stupid" question because I answered what he termed a "stupid" question last week about using the quote button. Anyway, what does the "D" in DH or DW stand for on the posts?

[sweeps]

what does the "D" in DH or DW stand for on the posts?

"Dear", "Darling" or in some cases, "Damn".

[Snave]

I was hoping everyone wasn't "divorced" or "dead." Thanks.

[safari]

I get 2/3 match on the first 6%, so 4%, and it's immediately vested. I am contributing 10%, which is the maximum I am allowed.

[illinigamer]

Ours is 50% of first 6% of salary, with a discretionary year end match which brings it up to a full 6% (this has been done every year). Vest 25% at 1 year, 50% at 2, etc.

[kilapapipa]

"Dear", "Darling" or in some cases, "Damn".

Thanks, I wasn't sure either but hadn't asked yet. Thanks for asking Snave.

[anonymous_saver]

Right now I have a Defined Benefit Pension Plan from my employer. I am required to contribute 4.25% (although that is raising slowly to 5%). My employer pays the same, but it's not really a match, because that money just goes to paying for fees and other stuff (that is, I don't get to take that money away). I also contribute 25% of my salary into a Roth IRA and a 457 plan (no match).

However, if I change classifciations at my job, the retirement plan is ridiculous! I would be required to contribute 2.5% into a 401(a), and they contribute 13%, immediately vested! That's a crazy match! Plus there are over 250 investment options, lots from Vanguard, and lots of index funds which are what I like. There is a 3 year waiting period to start the retirement plan, but I have heard of others who have switched over from the pension plan and have had the waiting time waived.

My boss really needs to give me this promotion, otherwise, it will be much easier to leave my job. I'm just sick of the pension plan. It's basically like keeping bonds at 25 years old. If I change job classifications and have less than 3 years in the pension plan, then I can roll it over to my IRA, but only with 6% interest. Ugh!

If I get the promotion, I don't know how I could leave that match. It's just crazy.


My partner puts 6% into their 401(k), with a 4% match. 20% vested for each year in the plan.

[fruitbowlk]

My company matches dollar for dollar for up to 6%.