From what I understood my husband's work would 100% match the first 1% you contributed and then 50% match up to 5%. But going through our retirement accounts yesterday for the end of the month I noticed that it said 50% up to an additional 5% contribution. So a total of 6% to get all the employer matching. Ugh!
That means we have been missing out on free money all this time. I am wondering if they didn't change it at the last union contract because I originally thought it was 100% up to 3% and then 50% up to 5%. But who knows. I immediately upped our contribution to get the max matching. They also contribute an additional 2.5%-ish in a lump in Decemeber. So we will be up to 12% in his Roth 401K a year plus we put 5% in my Roth IRA.
17% isn't great but isn't terrible. Thankfully we have time on our side and everything is Roth so tax free in the future.
November 30th, 2023 at 03:40 pm 1701358846
November 30th, 2023 at 06:18 pm 1701368291
December 1st, 2023 at 12:53 pm 1701435198
December 1st, 2023 at 02:32 pm 1701441161
December 1st, 2023 at 06:53 pm 1701456805