401K Company Matching Amounts

[Al in Ohio]

My last company did the best job of any prior. They contribute each spring a full additional 8% of your salary, including all bonus pay to your 401k each year regardless if you contribute a dime or not. This starts at year three.

You can go to the "Brightscope" website and get a rating for how well each companies 401k compares to others.

 

[tps7742]

The company I spent 34 years at contributed 3% after 3 years service, 5% after 5 yeats of service then after 9 years they contributed 10 %. I also have a traditional 80 point pension plan.

 

[Badger]

No match for me. We had to do it the hard way.

Cheers!

 

[greydog17]

Megacorp matched 50% of first 6% of salary for 30+ years, and had no cost DB pension too. When they froze DB pension in late 2000's they replaced with cash balance pension, and then froze that and went to 401k only, but increased match to 100% of first 6%.

 

[N02L84ER]

No match for me. We had to do it the hard way.

Cheers!

Wow, I did better than one person in getting a match. Only one company that I worked for offered a match. In 1998 this company matched up to 3% and because of vesting (or lack thereof) rules, I received a match of almost $500. I had to do it the hard way too. No pension either.
Cheers!

 

[RobLJ]

DW is now 50% match of 8% of salary; I think 3 of her earlier jobs were 50% match up to 6%.
In my 403b, it was 8.25% of salary (to my 6.4%)--this was in lieu of the state pension (the state decreased the "match" sometime in the 2000s but grandfathered older employees. Very lucky. I think the cost of pension to the state was similar--6.4% of salary for both state and employee.)

 

[JohnnyBGoode]

Current company - 0% match, which is a bit surprising since it is high tech, but that is how they roll.
Previous company (also high tech) - 25% match of contributions up to 6% of salary. That was a no-brainer - 25% "guaranteed" return.

FWIW, in our small business we offer SIMPLE IRA to our employees and we match 100% up to 3% of their salary. I actually wanted to do more as an employer (since I believe so strongly in getting people to save for their own retirement), but you actually aren't allowed to under SIMPLE rules.