Is the 401k matching compounded? If year 1 balance is 1000 and employer match is 250, if in year 2 you add another 1000, the balance is 2250. Is the employer match for Y2 25% of 2250 or 1000? Thanks!

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The match is of your contributions, not your 401k balance

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Is that Deloitte math? Isn't that 1.5%?.....🙄

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It's a % of ANNUAL contribution

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That's so deep

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Compounding at 25% no limit like you put it, would be wild. Can you imagine having 100k in that account and then ur firm just being like "Yeah here is 25k". What a life

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Got it. So it's 25% of 1k for Y2 too. Thanks?

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Also deloitte matches 25% of the first 6%. So it's a shitty 1.25% match... nice money, but not something to celebrate

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Dude, it's not that hard. They match 25% of your contribution up to 6% of your biweekly pay. If you add more to your 401k that's fine, but the match only applies to your first 6% of pay contributed. People here are saying it's based on your annual contribution, but it's not. They just withhold the match $$ and put it in your 401k in an annual lump-sum payment, which is why I think there is confusion. If you decided not to contribute to your 401k for 2 pay periods, you would miss on the match for those two pay periods, even if you "catch up" by contributing more later in the year. At least that's how I understand it.

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Matching 1.5% of contribution is different than 25% of 6%. It makes the employee put in more and have more "skin in the game" than just a straight 1.5% match.

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Thanks!*

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Ah i see. So it's an incentive of a sort. Makes more sense now.

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So by year 2 my contribution will be 2000 in total. Will the match be 25% of 2000?

Deloitte matches 100% of 25%?

And yes @TA1 our 401k match is terrible. We supposedly also have a pension that vests after 3 years at the firm, but I don't know as much about that.

D2 my understanding is it's based on total annual contribution since the match is based on annual salary but I could be wrong. Interesting. And my comment was actually only based on the fact that D1's math was wrong. 😂😂

Sorry, math is wrong 😇. I'm a bad Asian

Lol

The pension only starts accruing a year or so after you start, and doesn't vest for 3 years thereafter. Iirc, it started accruing the first 12/1 that fell after my one year anniversary. Not so simple.

Also, they guarantee at least $2500/yr I think.

Can someone explain why it is calculated as "25% of the first 6% contributed"? Why not just say we match the first 1.5% contribution? I have worked in three countries and this is the only one where I have seen the employer present their "benefit" like this. I even asked the recruiter if she really just meant "1.5%" and she just said "yes"...

If there's a meaning to this, I wonder why we don't also offer new undergraduate hires 25% of $300,000 in starting annual salary. Sounds more attractive, no?

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