I’ll do boring work, I just want an excellent 401k. In my 20s but thinking ahead. I’m looking for a plan with: - no vesting for matches - 100% matches for up to 4%+ of salary - Mega backdoor roth capability I heard Microsoft, Cisco, and Google were top tier in terms of 401k benefits. Anyone else?
Can confirm Cisco offers all of what you listed, but the TC isn’t as good as many other places in the Bay Area
Cisco how much do you put in your 401k annually?
I’ve only been here about a year or so, but I put in 18k last year and am on track to put $40k this year (not including match)
NSA chief
Mega backdoor is a big deal. You can contribute with match $55k to IRA/401k which are tax sheltered and also protected from creditors
100% this. The protection from creditors alone makes the mega backdoor Roth worth the hassle.
^ what are some common creditor situations to anticipate? I'm too young to know what could happen in future.
You seem like a boring person (no disrespect intended) :) sure, make sure you are saving into your 401K but don’t make it a focus. You might not even live to use it! Enjoy life.
Isn’t large companies mostly like this? Autodesk has this too.
Apple does 100% match for 6% salary for 5 years or more tenure
Lol that is awful.
AFAIK, only Visa has a better 401k plan than Apple - interested to hear what Wayfair offers (I assume you meant Apple is awful wrt Wayfair?)
200% of 5%
Any Tenure restriction ?
Nope and vested as soon as applied
LinkedIn is 50% of all contributions fully vested immediately. Free 9k every year
We also have mega backdoor Roth.
Holy shit. 50% of everything plus megabackdoor. The dream. Amzn is only 2% of salary max :(
AAPL has 100% plus megaback door 😜
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401k should not be your focus. TC should be your focus. Contribute the company match, sure, but would you take $20k less for a 10% fully vested match? That would be ridiculous because you can only contribute $18.5k/year.
Hey Mr. Wayfair, that’s not quite correct. Company contributions do NOT count towards your 18.5k limit. Only your own contributions do. If I was getting matched on 10% of my salary I would certainly take that. I’d get another 18k lol
Okay Mr. Credit Karma. I don't know why you insist on optimizing for such an insignificant portion of your TC, but you go right ahead and do that if it makes you feel good.