I put in my 401k 6% which is the same as all my coworkers at my level and we all have the same salary (I know this because we have talked about it) but my employer contribution was a FRACTION of what they got as employer contribution recently. Does anyone know why this is? We all have contributed essentially the same amount in our 401k

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Posting as :
works at
You are currently posting as works at

Side note: I've audited lots of ebps that had problems. This is why you should check with hr rather than assuming they're correct.

likesmart

Also, it could be that it's employer contributions for 2019,which they erroneously didn't receive and are being contributed now for the 2019 plan year. Employer contributions can be made in 9.5 months after year end to correct anything missing :)

Contact hr. It may be an error, or may be they've been at company longer

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We all had the same start date, thanks though!

It’s the internship dates. Your internship won’t count for years of service but theirs will because of the timing of when they did theirs

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Senior Audit Associate - I’m agreeing with you. Internship timing shouldn’t impact the match %, but it could impact vesting. I’d check with HR, the difference doesn’t make sense

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If you just switched/ increased to 6%, it could be a cycle lag depending on when you made the change

Double check the math (maybe theirs is screwed up and are getting too much?) Otherwise, agree with ASA 1, would contact HR

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Did they intern at the firm and you didn’t? Most firms adjust your start date back for the time during internship

We all interned, I interned the summer before they did actually

Update: my match was incorrect so make sure you’re checking!!

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