401K Matching - How much is yours (if any)?

[HayGan]

My company matches HALF up to 6% so the most from the Employer's end is 3%.

In other words...if I contribute 1%, the company match is .50%.

If I put in 6%, the company match is 3%.

If I put in from 7%-20% (max), the company match is 3%.

Either way...it's free money.

Same at my company

 

[floridagirrl2]

I work for the state government and my 403b is not matched at all, but I will also have a pension of which the state pays 100%.

 

[paladin]

My company matches HALF up to 6% so the most from the Employer's end is 3%.

Same for my company.

 

[mamalle]

% for % up to 5%

 

[cutedisney]

From what I know I think my company contributes $3.31 for every $1..

 

[lovetheparks]

Mine matches up to 6% of pay - dollar for dollar

 

[CheapMom]

0%

 

[Kristi1357]

0%

Me too!

 

[extremesoccermom]

I am very lucky. My company doubles my contribution up to 5%. So I do 5% and the company gives me 10%. Plus, since I work for a private university my kids, spouse and myself go to school for $50 per credit hour.

 

[WeLoveThePoly]

My company matches 50% of the first $5,000 contributed.
They are thinking of increasing it to 50% of the first $6,000 contributed effective 01/01/06.

(I work for a small company; less than 60 people.)

Debbie

 

[JMSMommy]

Small company (Dh as I am a SAHM), they do a straight off 10% into 401K, then match .50% for ever 1% you put in for the next 10%...so you put in 10% they put in 15% at the end.

They have NO pension though.

Doing the Dave Ramsey thing means while we are plodding along in baby step2, Dh is getting 10% into 401k which is NICE.

 

[Chicago526]

dollar for dollar up to 3%. Then yearly we get 8% of our salery if the company is in the black for the previous fiscal year. I feel this is very generous!

 

[BabyTigger99]

I have a fund through the State Retirement System. I don't have to contribute anything to it. Right now about $115 goes into it a month, all employer paid. Once I can afford to, I will open up a Deferred Compensation Account, basically, more money to supplement my Retirement fund.

 

[MScott1851]

Hmm. Mine matches 50 cents on the dollar up to 5%. I contribute 10% of my check.

Another hospital in town matches 2 to 1 up to 5%. It makes me sick.

 

[lulu71]

My employer puts 8.5% of my salary into a retirement fund, and requires no contribution from me whatsoever.
DH's co. matches 5% for everyone with an extra 1% at the employer's discretion for good employees.

 

[blanq]

I am curious about those of you who have matching programs and wondering if you also have traditional pension programs where you work, or does your employer match into your 401K substitute for a pension? I think it's kind of hard to determine if a match is a good deal, unless you look at the whole employer retirement compensation package.

Anyway, back to the original question. I work for county government. I do not have a 401K, but do have a deferred comp plan, of which there is no matching from my employer. I contribute 10% of my salary toward my deferred comp. I will receive a pension (PERA - Public Employee Retirement Association) when I retire, however, and right now I contribute about 5% of my salary and my employer a little over 6% of my salary into my PERA. When I retire, I have employee-only medical insurance paid, until medicare kicks in, and would pay the employee-only rate for that insurance (which is currently $0 per month).

My DH works for the largest utility in our area and his employer matches a small dollar amount toward his 401K, usually up to about $900 per year. DH contributes 10% of his salary toward his 401K. He also receives stock from his company (ESOP - Employee Stock Option Program). His pension is fully funded by his employer and when he retires they will average his last three years of salary and pay him 50% of that average per year during retirement. Also, his employer pays several thousand dollars for each year of service which is put in a fund he will receive upon retirement to pay medical expenses until medicare kicks in (provided there is such a thing when we would be eligible in 25 years!).

 

[ElizaB39]

I worked for the feds for 14 years and I had a 1% contribution from the employer plus a 4% match. I could contribute 10% and employer did 5% so I accumulated 15% of gross from the time I was vested ( 3years) until my departure date. I also am CSRS so for my pension I will get 14% (1% per year for each year worked) of the average of my 3 highest years of salary.
Also will have SS, perhaps.

No, we were not funded by taxes : - )

DH is self employed so he has a SEP, basically 20% of your salary and wages from your W-2 can be contributed to the SEP.

Some days I wished I still worked for the feds so I could be accumulating all of this great retirement money!

 

[lazarru]

.50 for each $ up to 6%

I'me wondering these people that have companies that match 3 or 4 to 1, what kind of companies are these? I've got to find a job there I've never had anyone match better than .5 to 1

 

[floridagirrl2]

I worked for the feds for 14 years and I had a 1% contribution from the employer plus a 4% match. I could contribute 10% and employer did 5% so I accumulated 15% of gross from the time I was vested ( 3years) until my departure date. I also am CSRS so for my pension I will get 14% (1% per year for each year worked) of the average of my 3 highest years of salary.
Also will have SS, perhaps.

I work for the state of Florida and my pension will be 1.6% for each year worked, based on the average of my 5 highest years of salary. However, for DH to receive my pension benefit if I were to die first, the state does some kind of actuarial analysis of how long he would be expected to live, and would reduce my benefits accordingly (if I choose the option to have DH receive my benefits when I die, which IS the option I would choose).

 

[Michelle in MO]

My husband's company contributes 15% of his gross annual income. This is in addition to the 5% hubby puts in each paycheck. So his employer puts in approximately $4 for every $1.