this post was submitted on 03 Oct 2023
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What company let's you put a full 15% into a 401k? I mean... sign me up.
Generally you can put in as much as you want but they only provide matching for some percentage. Usually like 1-5%. There is a total contribution limit but that won't affect most people.
You can put in a max of 22,500 per year. The employer contribution can be higher.
The company limits it to a percentage of your paycheck. Where I work it used to be 10% so I was never mathematically capable of maxing the full irs limit, but they moved that to 30% recently.
You can put however much you want in. Max is like 22k a year. You're probably thinking match, ya basically no company will match 15%.
That'd be too close to a pension fund or something reasonable. We can't have that. The boomers said those were bad, raegonomics are good. Fuck pensions and unions.
Unions, blegh.
I was forced into a union at my job, and it's horrible. We get tons of time off, full benefits, protection from our employers when they try to violate the contract or do something illegal, and great pay. I'm currently set to retire at 55 years old, with over $10,000 a month income between my pension and 457b.
I mean, what the hell is my $100 a month in union dues doing for me!?
That was me 16 years ago. I was so used to "work hard play hard" that I butted off with the union. They sent goons to intimidate me in the toilet, telling me to stop trying to beat records. I hated unions for years after that. Now, I see why they can be good, necessary even but I'm still kinda scared of them.
I feel like you didn't read the whole of their comment.
Yeah, I was commenting on how I used to think that the benefits of unions weren't worth the trouble. Now I know better. Still scared of goons, but I know better.
You can put in however much you want, the company only matches up to a certain low percent though. Typically less than 5%. I personally put 17% of my income into my 401k since I didn’t do anything for about a decade that I should’ve been doing 10% and now I’m trying to catch up, company only matches 3%
The limits on 401k contributions are federally regulated and are set as a nominal amount.
Employers often have employees select a percentage of their income to contribute, and for very high income earners, 15% might be over the federal limit. Also, employers can match employee 401k contributions. That is usually a percentage match of annual salary up to a given limit (e.g. 2% of salary up to $3000).
Any company that pays you less than $150,000.
The company I work for just moved up to 30% of your paycheck. But they don't really match. They say they do, but the max they will match is $750 per year.