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Raleigh, Durham, Chapel Hill, Cary The Triangle Area
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Old 03-20-2011, 06:16 AM
 
78 posts, read 160,549 times
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Just curious - what percentage of employee contributions are companies out there matching in their 401k plans? Mine will match 6% dollar for dollar.

The company just reduced the number of Fidelity fund choices quite a bit to maybe 21 individual funds; a bunch of "I'm going to retire in/around this year "lifecycle" funds (where Fidelity does the mixing and matching, depending on when you think you may retire); a Roth 401k; and they've added a self directed brokerage option.

I'm just wondering for this area if 6% match is good, bad, in the middle of the road,etc.
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Old 03-20-2011, 06:50 AM
 
9,196 posts, read 24,936,310 times
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In my experience, the most typical employer match is 50% of the employee's contribution up to 6%. In other words - 3% max for the employer on top of a 6% or greater contribution from the employee. I really don't think that's a local phenomenon however. Of course there are always variations and some local companies may do something different.
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Old 03-20-2011, 07:09 AM
 
Location: Raleigh, NC
285 posts, read 836,384 times
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Quote:
Originally Posted by Fred Garvin (MP) View Post
Just curious - what percentage of employee contributions are companies out there matching in their 401k plans? Mine will match 6% dollar for dollar.

The company just reduced the number of Fidelity fund choices quite a bit to maybe 21 individual funds; a bunch of "I'm going to retire in/around this year "lifecycle" funds (where Fidelity does the mixing and matching, depending on when you think you may retire); a Roth 401k; and they've added a self directed brokerage option.

I'm just wondering for this area if 6% match is good, bad, in the middle of the road,etc.
My place doesn't contribute at all.....
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Old 03-20-2011, 08:16 AM
 
540 posts, read 1,105,692 times
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Mine is also a big fat zero.
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Old 03-20-2011, 08:31 AM
 
5,743 posts, read 17,600,206 times
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Mine also is zero, but they contribute nearly $4K/year to your HSA account.
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Old 03-20-2011, 08:34 AM
ERH
 
Location: Raleigh-Durham, NC
1,700 posts, read 2,530,189 times
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Originally Posted by NewUser View Post
Mine also is zero, but they contribute nearly $4K/year to your HSA account.
In lieu of providing you health/dental/vision insurance, or in addition?
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Old 03-20-2011, 09:12 AM
 
273 posts, read 562,545 times
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Mine matches 7% dollar for dollar plus up to 10% of Gross Salary in Profit Sharing at the end of the year.
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Old 03-20-2011, 09:24 AM
 
5,743 posts, read 17,600,206 times
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Quote:
Originally Posted by ERH View Post
In lieu of providing you health/dental/vision insurance, or in addition?
In addition. The HSA helps to cover all out of pocket medical that is not covered by insurance (e.g., the deductible and any other medical expenses allowed by the IRS).
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Old 03-20-2011, 09:30 AM
 
Location: Chapel Hill, NC, formerly NoVA and Phila
9,777 posts, read 15,786,780 times
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We get 50% match on every dollar we put in. So for a $16.5K contribution we get $8,250. The money doesn't get put in until the following spring, though.
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Old 03-20-2011, 09:42 AM
 
Location: Cary
271 posts, read 700,803 times
Reputation: 154
My company matches 75 cents for every dollar.

Up to 8% of your salary
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