canyonwalker (![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
canyonwalker) wrote2021-10-08 11:52 pm
canyonwalker) wrote2021-10-08 11:52 pm
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401k Match... Finally!
My company has finally instituted a 401(k) match! A lot of people take these for granted, but in smaller companies— which I've worked at since 2004— they're uncommon. In fact I haven't had one at any of the small companies I've worked at until now.
The deal is a 100% match on the first $4,000 contributed annually. Oddly the matching starts with the first payroll in November. I mean, hey, the sooner the better.... But starting it late in the year is a rough fit for me because I've been funding my 401(k) to hit the maximum contribution for the year. I don't have $4,000 of eligible contributions left with which to max out my company's match.
I'm determined to get as much as I can, though. I stopped my contributions a few weeks ago, as soon as I was told about the benefit change. I planning to restart 401(k) contributions in November, when matching begins. If all goes well I'll be able to get about $3,000 of matching money in what's left of 2021 and then the full $4k next year.
The deal is a 100% match on the first $4,000 contributed annually. Oddly the matching starts with the first payroll in November. I mean, hey, the sooner the better.... But starting it late in the year is a rough fit for me because I've been funding my 401(k) to hit the maximum contribution for the year. I don't have $4,000 of eligible contributions left with which to max out my company's match.I'm determined to get as much as I can, though. I stopped my contributions a few weeks ago, as soon as I was told about the benefit change. I planning to restart 401(k) contributions in November, when matching begins. If all goes well I'll be able to get about $3,000 of matching money in what's left of 2021 and then the full $4k next year.