What's your company 401k contribution

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betterfinances
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What's your company 401k contribution

Post by betterfinances »

How much (total percent of your compensation) does your employer contribute to your 401k?

Mine contributes 6% right now plus a pension. The pension will be frozen in a few years and then they'll contribute 10% of our income into a 401k. Of course, the employee is required to throw something in, too.

How does this compare to other companies?
50ismygoal
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Re: What's your company 401k contribution

Post by 50ismygoal »

0%, no pension, of course.
JimmyD
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Re: What's your company 401k contribution

Post by JimmyD »

Mine does dollar for dollar up to 6% of salary.

Wife's employer does 35% of contributions, up to 18k.
Last edited by JimmyD on Thu Jan 14, 2016 2:52 pm, edited 1 time in total.
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rob
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Re: What's your company 401k contribution

Post by rob »

Zero dollars match - priceless :oops:
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katzmandu
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Re: What's your company 401k contribution

Post by katzmandu »

Mine does a fixed amount, but it comes out to about 7.5% of my salary. They give it to you whether you contribute anything on your own or not.
Last edited by katzmandu on Thu Jan 14, 2016 2:10 pm, edited 1 time in total.
Soon2BXProgrammer
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Re: What's your company 401k contribution

Post by Soon2BXProgrammer »

betterfinances wrote:How much (total percent of your compensation) does your employer contribute to your 401k?

Mine contributes 6% right now plus a pension. The pension will be frozen in a few years and then they'll contribute 10% of our income into a 401k. Of course, the employee is required to throw something in, too.

How does this compare to other companies?
http://www.seattletimes.com/business/bo ... engineers/

"In compensation, Boeing will bump up the company’s current 401(k) contribution by 9 percent of gross salary in the first year of the freeze, 8 percent in the second year, 7 percent in the third, and thereafter by 3, 4 or 5 percent annually depending on the employee’s age.

That’s on top of the company’s existing 401(k) match of up to 6 percent of gross salary."

This is a good deal when compared to industry. See:
http://www.investmentnews.com/article/2 ... -companies

And there is a link to even more scores on bloomberg:
http://www.bloomberg.com/graphics/2015-401k
(must click next then skip)
Last edited by Soon2BXProgrammer on Thu Jan 14, 2016 1:59 pm, edited 1 time in total.
qw3rty
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Re: What's your company 401k contribution

Post by qw3rty »

4%, no pension
MGator
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Re: What's your company 401k contribution

Post by MGator »

8% match plus a variable 4-8% age based bonus to 401k annually.

For example - Age 35, get 8% match plus another 5% (get add'l 1% each 5-6 years until age 55) for 13% total pay into 401k from company.
Chadnudj
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Re: What's your company 401k contribution

Post by Chadnudj »

betterfinances wrote:How much (total percent of your compensation) does your employer contribute to your 401k?

Mine contributes 6% right now plus a pension. The pension will be frozen in a few years and then they'll contribute 10% of our income into a 401k. Of course, the employee is required to throw something in, too.

How does this compare to other companies?
Safe harbor contribution for every employee equal to 3% of their base salary. (For what it's worth, I think this is a good way to do it -- even if someone contributes nothing to their 401k, the employer still puts in 3% of their base salary each year subject to vesting requirements towards retirement, which is better than nothing)
MatsuGrabik
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Re: What's your company 401k contribution

Post by MatsuGrabik »

50% of every dollar up to 5% of salary, so 2.5%. This for one of the Big 4 accounting firms.

Small pension (vested after 3 years). They add a couple thousand to it each year after seeding $5,000 up front.
psystal
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Re: What's your company 401k contribution

Post by psystal »

First three years: 100% match up to 8%
After vesting: 150% match up to 8% (i.e.12%)

I work for a university, not private industry.
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Sunflower
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Re: What's your company 401k contribution

Post by Sunflower »

10% of salary. Pretty much unheard of, I think. Very generous. It would be even more generous if I had a higher salary. :)
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Boomer01
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Re: What's your company 401k contribution

Post by Boomer01 »

5%, no pension
dc81584
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Re: What's your company 401k contribution

Post by dc81584 »

0%, but I have access to dirt cheap Vanguard index funds, and I will receive a pension.
dmbfan4life20
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Re: What's your company 401k contribution

Post by dmbfan4life20 »

Me- 7% goes into State Pension Fund, then I have a 457 plan with 0% match. New job starts next month with be TSP with 5% match.

Wife- 3% now but after being with the company for 5 years you become vested and they contribute 15% of her salary to the 401K. I never heard of this amount before but she said that it is a perk they have for employees since they pay a bit under the market average. I still think it's a great deal especially after doing the math on her salary and the potential it has over the next 30 years until retirement.
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JDCarpenter
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Re: What's your company 401k contribution

Post by JDCarpenter »

match, up to 3% of salary. (Small/tiny law firm)

E.T.A.--plan expenses are heavily subsidized by firm and we have good, cheap fund choices.
Last edited by JDCarpenter on Thu Jan 14, 2016 2:38 pm, edited 1 time in total.
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conroy
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Re: What's your company 401k contribution

Post by conroy »

100% to $3000, or 50% to $18000
Vanguard
no pension
Last edited by conroy on Thu Jan 14, 2016 7:22 pm, edited 1 time in total.
terran
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Re: What's your company 401k contribution

Post by terran »

I'm self employed so my employer (me) contributes 25% to my solo 401k. :D

My wife works for a university and they contribute 6.2% up to ~$52k base salary then 10.5% of the amount over that regardless of whether she contributes or not.
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ResearchMed
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Re: What's your company 401k contribution

Post by ResearchMed »

No match, just free money into the 403b :happy

Employer contributes the maximum allowed, including the bump for older employees.

Employees may also contribute, but are not required to in order to get employer contribution.

RM
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fatcharlie
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Re: What's your company 401k contribution

Post by fatcharlie »

4% 401k match (raised from 3% last year)
chartcab3785
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Re: What's your company 401k contribution

Post by chartcab3785 »

0%, no pension, and terrible 401k fund options to boot.
stingray5688
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Re: What's your company 401k contribution

Post by stingray5688 »

0%, no pension, and bad fund selections. good thing i have an upcoming job interview.
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jasc15
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Re: What's your company 401k contribution

Post by jasc15 »

100% up to 3% of salary, 50% from 3% to 6%, 0% over 6% for a max of 4.5% of salary. No pension. Major aerospace corporation.

Surprising number of low cost funds, including 4 Vanguard funds.
AlwaysAStudent
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Re: What's your company 401k contribution

Post by AlwaysAStudent »

Chadnudj wrote:
betterfinances wrote:How much (total percent of your compensation) does your employer contribute to your 401k?

Mine contributes 6% right now plus a pension. The pension will be frozen in a few years and then they'll contribute 10% of our income into a 401k. Of course, the employee is required to throw something in, too.

How does this compare to other companies?
Safe harbor contribution for every employee equal to 3% of their base salary. (For what it's worth, I think this is a good way to do it -- even if someone contributes nothing to their 401k, the employer still puts in 3% of their base salary each year subject to vesting requirements towards retirement, which is better than nothing)
I also receive a 3% safe harbor not related to contributions (as long as you start/open the 401k plan), after that they match 50% of every dollar up to 6%. Basically it works out to 100% match at 6%, however if you put in less than 6% the company ends up "matching" at a >100% of what you put in. It is less money but sometimes it is hard to explain to a new employee that the 100% match at 6% contributions is actually better than the >100% match at 4% contributions. They just see that the company is putting in more money than they are, they don't see that they could get the company to put in even more if they will just put a little more in too.
stoptothink
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Re: What's your company 401k contribution

Post by stoptothink »

100% up to 3% and 50% of contributions from 4-5%. Definitely a step up from my former employer which matched 2.5%...of our contribution, and even then I had to threaten to contact the IRS when I went almost an entire year without receiving my match.
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JustinTime
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Re: What's your company 401k contribution

Post by JustinTime »

18K Pre-Tax
20K After-Tax
9K Match
Grogs
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Re: What's your company 401k contribution

Post by Grogs »

Wow, some (most) of these are insanely generous. We only get 3% right now - 50% match up to 6% of salary. It actually went away completely in 2012 (1 month after I got hired), but came back in 2013. We do have a pretty good pension plan, but we have to put in a 2% contribution to that. I guess that means I'm really only netting ~1%.
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powermega
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Re: What's your company 401k contribution

Post by powermega »

Match is $0.50 per $1.00 contribution, up to 6% of your salary. In other words, in order to "max the match", you need to contribute 6% of your salary. DW's employer matches $1.00 per $1.00 contribution, up to 6% of salary.
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JZinCO
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Re: What's your company 401k contribution

Post by JZinCO »

I opted out of the pension for better or worse.
As an alternative, I receive an 11% contribution of salary (regardless of employee participation). That justification for 11% is that this is a social security exempt employer; I've been told I can still opt in to SS and receive the 11%. Since it is a DC plan, I assume WEP wouldn't factor in.
tenkuky
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Re: What's your company 401k contribution

Post by tenkuky »

5%, with 3 year cliff vesting.
No pension.
Past employers were: pension after 5 years vesting (I didn't last) and before that 12%
StoneyCWI
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Re: What's your company 401k contribution

Post by StoneyCWI »

Mine is 0% but what they do with the $ is have a medical reserve fund $5K for single and $10K for couple that pays what is not covered by medical insurance. Which I think for a small firm is pretty nice!
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DonCamillo
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Re: What's your company 401k contribution

Post by DonCamillo »

I have a state job with a 401a. State contributes 8% of salary and I am required to contribute 6%. This is called the "alternate benefits plan" as it is in place of a pension. I am happy about this, as the money goes directly to TIAA-CREF, and NJ has drastically underfunded the pension contributions for its defined benefit plans. I am also able to contribute up to $24,000 each to a 403b and a 457b.
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dubsem
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Re: What's your company 401k contribution

Post by dubsem »

Big 4 - 6% of 25% salary vesting 20% per year until fully vested after 5, no pension
Corp Fin - 4% of salary automatic 100% vest, no pension
G.O.O.D.
rgs92
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Re: What's your company 401k contribution

Post by rgs92 »

Most big telcom companies for systems/IT work mainly hire you as contractor via small middlemen outfits. All of them that I know of have no match at all, and the funds all have pretty high fees, and they use places like Principal. It is basically not worth using the 401K at all; it's better to use Vanguard directly for IRAs or taxable accounts. There seems to be little direct hiring unless you are a recent grad.
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SmileyFace
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Re: What's your company 401k contribution

Post by SmileyFace »

0%, no pension....but it is all relative (although I'd appreciate more tax-advantaged retirement savings).
You need to look at your total pay package. In one place you may get a higher salary and RSUs with 0% match while at another you may get a great match but lose salary (in forms of base, bonus) or other large opportunities (RSUs, stock optons or whatnot). There is also a huge difference in medical contributions between companies these days which many folks seem to ignore when comparing job offers...
ActionJackson
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Re: What's your company 401k contribution

Post by ActionJackson »

4% - but at least we have access to admiral vanguard index funds in the 401k.
Dleex84
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Re: What's your company 401k contribution

Post by Dleex84 »

3%. No pension. Non matching FSA. contributing 30% salary of 80k. Will max in 9.5 months. (late start due to new employer).

My other roth 401k and traditional 401k is untransferrable to new employee. Im still "per diem" but have no benefits to contribute to my 401k. Techinically still an employee so the only way i can roll over is if I quit my per diem job.
cherijoh
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Re: What's your company 401k contribution

Post by cherijoh »

betterfinances wrote:How much (total percent of your compensation) does your employer contribute to your 401k?

Mine contributes 6% right now plus a pension. The pension will be frozen in a few years and then they'll contribute 10% of our income into a 401k. Of course, the employee is required to throw something in, too.

How does this compare to other companies?
I think you have a pretty good plan from the match perspective. What do your expenses look like?'

My 401k match is 1:1 up to a 5% employee contribution.

In lieu of a pension, we get 2% of salary deposited in 401 if < 10 years in job or 3% of salary if > 10 years. All employees get this, whether or not they contribute to the plan.

Our fund line up includes VG index funds in institutional class plus VG Tips fund. There is a recordkeeping fee, but it is only ~0.1% of balance on an annualized basis.
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Nicolas
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Re: What's your company 401k contribution

Post by Nicolas »

3.5% of compensation (50% matching of up to 7% of savings) plus an old-style non-COLA pension which new hires don't get anymore. It isn't frozen so I'm still building it after 37.5 years on the job and counting.
quantAndHold
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Re: What's your company 401k contribution

Post by quantAndHold »

50% of 4% (so 2%). No safe harbor, so I get a refund every spring, too.

The only upside is institutional class Vanguard funds.
Yes, I’m really that pedantic.
Bob's not my name
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Re: What's your company 401k contribution

Post by Bob's not my name »

$23,000
undertheradar
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Re: What's your company 401k contribution

Post by undertheradar »

$.50 on each dollar to 8%.
Plus cash pension contribution once a year based on age and years of service. It grows at 6%.
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dwickenh
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Re: What's your company 401k contribution

Post by dwickenh »

100 % match on the first 3 % and 50% match on the next 2 % contribution. So anything 5% and above contribution gets a 4% match.

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curmudgeon
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Re: What's your company 401k contribution

Post by curmudgeon »

3% of base comp (on a 50% matching basis). Done in a totally screwy fashion so that I actually *lose* some of the employer contribution if I use the "catch up" 401K space for over-50. No pension or other deferred compensation options.

As others have noted, it is the total compensation (and job) package that matters, but for myself, I would prefer to push some more of that total compensation into tax-deferred space.
CoAndy
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Re: What's your company 401k contribution

Post by CoAndy »

I get a 3% match, a pretty good pension, and relatively good fund choices.
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llama
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Re: What's your company 401k contribution

Post by llama »

$9,000 (50% match up to the 18k limit)
rjc32000
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Re: What's your company 401k contribution

Post by rjc32000 »

6% match. Company pays for all 401k expenses/fees and offers a fabulous array of Vanguard funds to select from (Employee Fiduciary).
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betterfinances
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Re: What's your company 401k contribution

Post by betterfinances »

cherijoh wrote:
I think you have a pretty good plan from the match perspective. What do your expenses look like?'
I'm invested in 3 funds. One has a .05% expense ratio, one has a .06% expense ratio, and one has a .12% expense ratio. No fees.

I'm happy.
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ruralavalon
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Re: What's your company 401k contribution

Post by ruralavalon »

betterfinances wrote:How much (total percent of your compensation) does your employer contribute to your 401k?

Mine contributes 6% right now plus a pension. The pension will be frozen in a few years and then they'll contribute 10% of our income into a 401k. Of course, the employee is required to throw something in, too.

How does this compare to other companies?
I am now retired.

When working I never had an employer contribution, employer match, or a pension plan.

In the first ten years of my employment following college, 401k plans didn't even exist. For most of my work life the funds offered were mediocre to bad. Nevertheless my 401k was the key to my retirement savings.

Keep in mind that many employees don't have access to a 401k plan at all.
Last edited by ruralavalon on Thu Jan 14, 2016 7:38 pm, edited 1 time in total.
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Steve K
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Re: What's your company 401k contribution

Post by Steve K »

Me - 50 cents for every dollar to 2.5%
Wife - 5% of salary.
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