How is your company’s 401k plan implemented?
1, Match percentages? 2, Match limit? 3, True-up match? 4, Allow after tax contribution? 5, Allow mega backdoor ROTH? For Microsoft: 1, 50% 2, no limits 3, n/a 4, yes 5, yes Edit: forgot the match can have vesting schedule, please also mention if it is vested immediately. Microsoft match is in cash and vested immediately
Uber: nothing
For #2, there is a limit in Microsoft. You can’t contribute more than 65% of your pay check. It doesn’t matter in most cases unless you’re planning to leave in Jan/Feb and want to max out your 401K for the year before leaving. I’d also add that investment plans offered by Microsoft are pretty good and have very low fee in general (0.06-0.3%). 401k investment plans offered by some companies have a high fee (0.5-3.0%).
The limit is on the amount you can contribute per paycheck, not on the match Many companies matches 50% of your contribution, up to 2% of your salary. Absolutely agree with you about the investment option
Do not want to sound like a jerk but I believe that 50% match can be considered “limited” considering they would match half of only 65% of your pay check even if you contribute 70% of your pay check. I’m not even sure if 70% contribution is allowed or not.
So for MS if you put in 50k, they would add 25k? That’s a 50% return. Nice.
Yep, you put 19000$ and get 9500$ match immediately, no string attached
However the yearly contribution is maxed out at 19K. What happens if you contribute 19K yourself? I guess the match doesn’t happen? Sorry for the stupid question. I’m wondering how much I, myself have to contribute yearly in order to max out my 401k properly.
Isn't there a 7 year vest for Intel
For Amex 6% 100% Yes to rest 3, vests immediately
My current company does a 13% deposit by default to a SEP IRA. No matching required.
I learned Cruise Automation matches 100%, up to 4% of your base salary per year. Not clear about their after tax contribution situation.
Airbnb matches 50%, up to 2% of your base salary. Yes to other 3 questions. Vest immediately
Would like to hear from more companies
4.5% match. Vests immediately and not over time. Yes to the last 3