I have a question on IBM's 401K plan: From www-01.ibm.com/employment/us/benefits/2019_Benefits_and_HR_Programs.pdf: • Automatically enrolled into the before-tax 401(k) at 5% of eligible earnings after approximately one month on payroll, if no action taken • May increase contribution up to 80% of pre-tax earnings (subject to IRS limits) or may stop participation at any time • Generally, after one year of service, IBM will: o Contribute 1% to your account regardless of your savings levels o Match 100% of the first 5% of your Pre-tax or Roth contributions o The IBM match will be deposited on Dec. 31 (or the last business day of the year) for employees on active payroll as of Dec. 15. In simple English, I got 5% 401K automatically, after 1 year there will be additional up to 5% match for 401K or Roth?
First 5% 100% match and 1% free $
Question: I started my career with IBM last month (June). I was wondering if I would receive 1% matching by 12/31? I am contributing 5% to my ROTH right now. But I'm confused on the definition of 1 year service term. I know that I won't receive the 5% matching but will I receive that 1%?
No.
Tech Industry
Yesterday
2980
Googlers entered Sundar’s office in protest and threatened to stay
Tech Industry
10h
830
TC progression. Estimated to hit $1M+ this year. AMA
2024 Presidential Election
6h
538
If you vote for Biden this year, don't complain about layoffs
Tech Industry
6h
1048
What is the appeal to NVIDIA?
Tech Industry
8h
2626
Goog Employees Arrested
Thanks