Just wanted to throw out some helpful details on KPMG’s Capital Accumulation Plan (ie new 401k):

- KPMG auto contributes 6%-8% of eligible W2 pay per year.
- Must be employed on Dec. 31 of the CY in order to receive any employer contribution for that year (employer contributions are made in Feb of the following year). Same as the retired 401k plan.
- CAP has a 3 year vesting period. Either 0% vested (<3 yrs) or 100% vested (>3 yrs). Retired plan had 5 year incremental vesting period.

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Thank you. So if someone starts in July and is still employed on Dec 31st, they will still be eligible for the CAP plan. They would get 6% of what they earned from July to Dec?

That is correct! The contribution is generally 6% of your W-2 pay (base+bonus+/-minor adjustments).

If someone quits Jan 1, do they get still get the employer contribution from the prior year?

Yes that is correct

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