{ "media_type": "text", "post_content": "forgot to adjust my 401k contribution for bonus payout 😥", "post_id": "57bd1a70a2a07f0e00aa4712", "reply_count": 21, "vote_count": 0, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

forgot to adjust my 401k contribution for bonus payout 😥

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Deloitte only matches your total contribution during a year at the end of FY. Doesn't matter whether you contribute throughout the year or just do it for a few months to max out the 401k limit and then stop. In May, they will look at your total contributions during the calendar year and match 25% of that (up to 6% of your gross salary).

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Automatically stops withholding when you hit the cap, just enjoy the larger paycheck from September through December

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You want to stretch your contributions to max out at EOY to take advantage of corporate match. If you max out in August, you lose out on the match through december

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It is only matched up to x%, though. It only matters if you're below the 6%(?) match limit. If you're above, it stopped before the bonus hit. You're not sacrificing the match, either way.

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Exactly what D2 said. ACN matches only the first 4-5% of your contribution per paycheck. If you max out in August by contributing 20% of your paycheck (for example) then you won't get that 4-5% match through December. You're better off stretching that out at 10-12%

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Go to bed.

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D1, take the extreme, say you make $18k/month (the 401k max). If you saved your entire first month your match would be 6% of $18k (actually, 25% of 6%, but we're not here to complain about D's 401k match). If you spread it out over 12 months, your match would be 6% of $216k (18k x 12). That's why ACN 1 says to spread it out

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Deloitte only contributes its match at the end of their FY based on your contributions thru end of last calendar year. They dont calculate the match based on FY.

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If you max out, you'll get it back at the end of the year.

yep- was just looking forward to a (much) larger payout, after taxes of course!

It's better this way ;-)

Interesting, I wonder if D works like this, I need to investigate

Wait. A1. Please elaborate.

Yes it only matches up to x%, but that's PER paycheck (not total of your salary). Had a long conversation with a coworker about this and there's a good article online about it, will try to find

BINGO. Here's another explanation: http://www.doughroller.net/retirement-planning/should-you-max-out-your-401k-early-in-the-year/

Does that mean if you leave before May, Deloitte doesn't match your contribution at all? Or is it a partial match based on when you leave.

I'm pretty sure the 6% match item means match of your contribution, no? I'll read the shared link and ping a coworker.

D4 - good question that I am not sure of. If you find out, please let us know too.

A2, no. deloitteguy, I'm pretty sure if you check your 401k you will see a Deloitte match contributed every paycheck... The question is whether they true you up at the end of the calendar year (since 401k is a federal thing and runs on the calendar year I would be surprised if they based anything related on the fiscal year)

D2 - paycheck only shows your contribution every bi weekly period. Deloitte contributions never show up on the paychecks. The match is just made in your vanguard account towards end of May/ early June every year once. Thats the case at least for me. Not sure how you see Deloitte contributions on your bi weekly pay stubs.

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