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One thing that caught my eye was the 50% 401k match up to the federal max (which I think is 25% of salary). Not sure how that work out, but maybe it's if you'r
by tunesmith 13y ago
One thing that caught my eye was the 50% 401k match up to the federal max (which I think is 25% of salary). Not sure how that work out, but maybe it's if you're making 100k, then if you contribute 25k, they'll throw in an extra 12.5.
What tends to be the industry standard these days? Given all the talk about programmer salary ranges being artificially constrained, one thing to optimize for is how quickly you can save up enough retirement savings so you can retire, so an employer with an aggressive 401k match can really help with that. Most people I know have paltry 401ks where they'll get a straight 3% contribution, or a 50% match up to 6%, or something like that.
- mhlakhani 13y agoThe federal max is 17.5k (or 23k if one is over 50), as of http://taxes.about.com/od/retirementtaxes/qt/401k-contribution-limits.htm http://taxes.about.com/od/retirementtaxes/qt/401k-contributi...
- tunesmith 13y agoThat's for deferral, not matching. I think 100k would mean, you can defer 17.5 (so 82.5 is subject to federal tax, and 100k is subject to fica), and then up to 25% of salary can be subject to matching. Although maybe some employers just stick to matching the deferral?
- toast0 13y agoThe match is almost always on the deferral amount. So a 50% match is up to $8,750 extra with the current limit (subject to vesting!) There are other options for an employer to contribute. The total contribution limit (including deferred income) to a given employer's plan is $52,000 for 2014. Salary deferral is limited across all employers, but if you have multiple employers contributing on a non-deferral basis, then it seems you can go over the $52,000 limit http://www.irs.gov/Retirement-Plans/Plan-Participant,-Employee/Retirement-Topics---401(k)-and-Profit-Sharing-Plan-Contribution-Limits http://www.irs.gov/Retirement-Plans/Plan-Participant,-Employ...
- jtbigwoo 13y agoThe most generous I've ever seen in a big company was Wells Fargo offering a 100% match on the first 6%.
- _delirium 13y agoA pretty decent number of Valley companies (even big ones like Facebook) have no pension contribution at all. It's one thing to keep in mind when comparing salaries.
- sorahn 13y agothe 401k Match is real. The federal max isn't per salary, it's just fixed. 17.5k. If you contribute 17.5k they will contribute 8.75k.