KPMG 401k question. Joining KPMG next week. So they not pay out their 401k distribution until after a year of service? Can I immediately start contributing personally?

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Explain your logic there. Since there’s no firm match you shouldn’t save for retirement that year? Match or not it’s still going to lower this person’s AGI with pretax deductions and increase their long term retirement savings…

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Do they not***

I think you can start contributing after 30 or 45 days and yearly they add their "match" which is a 6% dump regardless of your contributions

Thank for your helpful answer and don’t worry SM1 I’m an aggressive 401k contributed. I always do the IRS max

I joined this year, you’re eligible to start contributing personally after 60 days with the firm.

For the KPMG contribution, you’ll start accruing 6% after a year of tenure (Sept 23), which will be paid into your account in Feb 24.

Unfortunately, just confirmed in the CAP plan summary. So you’d be eligible to start accruing the 6% in Oct 1, 2023. The good news is that will at least include 6% of your bonus next year (paid 10/15).

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