Comments on: 401K Plan Question http://moneyanswertree.com/archives/380/401k-plan-question/ investing, money, credit card debt, 401k, roth ira, credit cards, make money, personal finance, savings, retirement planning, free money, roth ira contribution, financial advice, free financial advice, online financial advice, savings account, money market, roth ira rules Wed, 01 Feb 2012 08:34:32 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: pbucelwicz http://moneyanswertree.com/archives/380/401k-plan-question/comment-page-1/#comment-1403 pbucelwicz Thu, 19 Feb 2009 21:47:35 +0000 http://moneyanswertree.com/archives/380/401k-plan-question/#comment-1403 That is legal. The company is allowed to do what ever they want as far as contributions. They don't have to match if they don't want to I don't think. Basically what is happening is they are contributing more and more the longer you are with the company. If I follow what you said correctly, they are matching 50% up to the first 4% then there after they match 20%, 40%, 60%, 80%, 100% for anything you put in over the first 4%. @Donne You have a good question, I think they are still matching 50% on the first 4%. That is legal. The company is allowed to do what ever they want as far as contributions. They don’t have to match if they don’t want to I don’t think.

Basically what is happening is they are contributing more and more the longer you are with the company.

If I follow what you said correctly, they are matching 50% up to the first 4% then there after they match 20%, 40%, 60%, 80%, 100% for anything you put in over the first 4%.

@Donne You have a good question, I think they are still matching 50% on the first 4%.

]]> By: Donnie http://moneyanswertree.com/archives/380/401k-plan-question/comment-page-1/#comment-1402 Donnie Thu, 19 Feb 2009 18:25:11 +0000 http://moneyanswertree.com/archives/380/401k-plan-question/#comment-1402 I'm sure it is legal. The question I would ask is: after 2-6 years of service, is the first 4% still matched at 50%? And also, the 2nd part of your statement doesn't specify a limit. It just says anything over 4%. I believe there may be some missing information. You could theoretically invest the maximum and have the company match all of it. My company does it like this: 0-1 Year: 0% match 1-2 Year: 50% match up to 8% 2-3 Year: 75% match up to 8% 5 Years+: 100% match up to 8% I’m sure it is legal. The question I would ask is: after 2-6 years of service, is the first 4% still matched at 50%? And also, the 2nd part of your statement doesn’t specify a limit. It just says anything over 4%. I believe there may be some missing information. You could theoretically invest the maximum and have the company match all of it.

My company does it like this:
0-1 Year: 0% match
1-2 Year: 50% match up to 8%
2-3 Year: 75% match up to 8%
5 Years+: 100% match up to 8%

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