401k matching
(Neanderthal, 2,598
Points)
on 12/18/07 at 10:24am
How does yours work? I've seen everything from no matching, to 6% of what you contribute, to 5-6% of your comp.
And there's often a pension, usually with cliff vesting, of 1-5% on top of that.
So what's yours like?






Varies
My first firm matched 100% up to 6% vesting over 5 years. With an additional 4% of total comp up to 100k vesting after 3 years. With the 4% increasing every few years up to 6%.
Second firm is 50% matching up to 5% (So if I put in 5% they put in 2.5%) and it vests over 5 years beginning one year after start.
Other people I know couldn't contribute until 1 year, then were 100% vested immediately with 4% matching.
Its as individual as the firm, its the one area where offers at lower levels truly differ.
--There are stupid questions, so think first.
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Consulting is very
Consulting is very different...
No matching, but between 8-12% (depending on the firm) of total comp is placed in an account and vests from immediately to over 5 years (again, depending on the firm). Much prefer that :)
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So basically the consulting
So basically the consulting firm automatically puts in an amount equal to 8-12% of total comp into a retirement account? Looking forward to that...