Can someone maximize 401k contributions only during last few months of the year and still get full company match available (of the base salary) or is it prorated and a only certain percentage of every paycheck ?
I know Amazon distributes company match across the year, no matter whether you maximize contributions in the first two months or spread it across the year. If you just contribute last two months, then you only get company match for those two months.
How is this done in other FAANG companies ?
(Asking for a friend moving to Facebook next month)
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comments
Yes the 50% of yearly limit.
For Google, as others correctly wrote here, you get an instant match regardless of contribution amount, vesting immediately. It is common for people to max everything out in January-February with annual bonuses.
With Apple, you only get a match up to a percentage of your salary in that specific paycheck. No match on bonuses, no "true up" contribution, you better set contributions up carefully into equal parts throughout the year, or you'll lose money. Vest is immediate, though.
Technically you can join near the end of the year and still get the entire match for the year assuming you have room to contribute.