If you work for a company that offers a 401k or 401a, how does it work? I'm particularly interested in the employer match and how long it takes to be fully vested? I know there's so much more to 401k plans than those two details but that's what I'm most curious about. 

Here's my current 401a setup.
I work in the government/public sector. We are required to contribute 3% and the employer match is 8% for our 3% (!!!).
The vesting schedule is as follows:  20% vested at 2 years; 40% at 3 years, 60% at 4 years, 80% at 5 years and fully vested after 6 years. 

*Previous employer*
Real estate and entertainment company. After 6 months, the company would match 50% of each dollar we contributed. Five-year vesting schedule with 20% annual increments, e.g. 60 % vested at three years.

*Second employer* 
Salaried nonprofit fellowship. No 401a offered.

*First employer*
The company matched 100% of the first 2% of eligible compensation and 50% on the next 4% for a potential maximum match of 4%. We were vested after three years. No incremented vesting schedule. 

My goal for the past 5 years is to try hard to max out the contribution. It's crazy how fast it grows when you max. I'm ahead and behind at the same time because I've only just started maxing out.

For the past 3 years I've been taking my bonus, pretending it doesnt even exist and dropping that into the 401k - I might skim a few hundo off the top for me but thats about it. That way I get more money in the pocket each month - I only get paid once a month which means that I have to be super mindful about money.

We also have a pension but its a weird one - 6 years to reach 100% but in the end it's like 6k per year upon retirement.

previous job offered 100% match up to 5%. fully vested in like a year.

this one is 50% match up to 5%. i think 6 years for being fully vested.

>previous job offered 100% match up to 5%. fully vested in
>like a year.
>
Fully vested in a year is what dreams are made of...man!

you couldnt contribute your first year then after contributing for a year you are fully vested...i think. i was there 9 years so i might have just forgotten how long it took to get fully vested lol. i do think it was 2 years max though.

I'll take taxes on $19k now rather than taxes on $19k + gains in 30 years.

My company match is 50% up to 6%, which I've found to be pretty standard.

>If you work for a company that offers a 401k or 401a, how
>does it work? I'm particularly interested in the employer
>match and how long it takes to be fully vested? I know there's
>so much more to 401k plans than those two details but that's
>what I'm most curious about. 
>

employer matching up to 6%, I think whether it's pre or post tax

*correction - vests after 3 years of employment. I just forgot.

I work for Verizon


www.engadgethd.com - the other stuff i'm looking at

No vesting period. The way they've set it up means I can't front load

The best program I've had is my first employer. 10% yearly 401k BONUS (not match... didn't matter if you contributed at all). But, you weren't fully vested until 6 years in. I left in the 7th year and I'd say 75% of my 401k was from employer contributions.

We get 1% of our base pay even if we don't contribute.. must be vested after 3 years to get that..

if you contributed

The first 3% of pay that you contribute will be matched dollar-for-dollar; the next 2% will be matched at 50 cents on the dollar. Contributions above 5% of your pay will not be matched.


so if you contribute at least 5%, you good.... but definitely contribute more if need possible..

These techies make so much money they didn’t see the value in a 401K. Now that some are older and starting families they should vote for it the next time it’s offered.

I was mad as shit when I heard they voted against it before I got here.

My coworker said “no one here owns stocks besides the owner of the company” I looked at him like he was crazy. Bruh... you better get in the game.

I currently have a Roth IRA

@silentintellect

Dude said if he bought Tesla stock instead of the car he would’ve made a grip of money.

These cats making 6 figures so they feel they don’t need a 401K.

Contributing 11% right now to a Roth 401k. Was doing more a few years ago but bumped it down when I bought a house. I just refinanced and will be saving a lot more per month so could probably increase it again soon.

I always see these blogs saying you should have like 2x your salary in your 401k by the time youre 35. Seems really aggressive. I dont even have 1x at 33. Maybe if youre doing a traditional 401k that would seem more reasonable.

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