heavysnow
401k matching question
1925
10
2006-06-07 16:35:00
So, you are saying the matching is all 'local to every paycheck', can't
be according against the my contribution annually? Just for example,
if my 7% of annual salary happens to be 15000, and I can put 15000
in 401k the first month,
--if the 7% of the annual salary is $15k, the money should be $1,250/month. you cant just put the whole amount in the first month.
but, the company won't be matching 15000
the first month, instead it can only match 7% of my first month's paycheck
which is 15000/7%/12*7%=1250.
Am I right? Thaks
maybe i am repeating what you have said above, but here is a clear look of how it works. for example, the annual salary is $80,000, employee contribution is 7% and same as employer match.
employee contribution per month: $80,000*.07=$5,600/12=$466.67
employer match per month: $80,000*.07=$5,600/12=$466.67
therefore, a total of $933.33 goes to your 401k account each month.
到底了
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