{ "media_type": "text", "post_content": "How much should I be contributing to 401k to take full advantage of firm match?", "post_id": "5a3060b135fbc700138839ea", "reply_count": 20, "vote_count": 1, "bowl_id": "564a5cdb94887803001dd07c", "bowl_name": "Accounting", "feed_type": "crowd" }

How much should I be contributing to 401k to take full advantage of firm match?

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Zero percent. Put it all in bitcoin, or other crypto of your choice, retire in a year.

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Learn to read stuff and don't be lazy

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You work for an accounting firm and are asking that?

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EY matches on contributions up to 6% of your salary

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KPMG is right. Fuck this place. Put it all in bitcoin

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Lol lazyyyy

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You get 1.5% essentially

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It’s shitty

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Its different for every company

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I think it increase to 3% when you’re a manager

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You have to contribute at least 6% of your base pay. The firm matches 50% of that (25% if you have 1-4 years of service). Base pay x .06 / 24 = min contribution per pay period

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Haha you’ll never vest

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You’re automatically 100% vested at EY in the 401k

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PwC really f*cks their employees on their match. I get 25% up to 6%. Which means I'd have to contribute 24% of my salary each pay period to max PwC's match. Simply not feasible.

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Lol good thing this is anonymous. I think I've always read it wrong that PwC will match up to 6% of my salary, not the 6% of my salary I save.

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Is it lower of match up to 6% of the salary or 25% of your contributions?

Don’t put anymore in than that...

That’s a weak match. Is that for all of EY or does it better as the levels go up?

3% match only at PwC

PWC2 is that correct? At EY they match 50% of the first 6% of your salary you contribute. So we can get a max of 3% of our salary. I could contribute 24% and still only get a total of 3% If PwC is similar, you could only get a max of 1.5% no matter how much you contribute—based on your 25% match. (You’re saying that you could get a max 6% of your salary). The wording is confusing. Just trying to clarify.

I am not an accountant or tax person, BTW

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