401k Match Rules
My son graduated from college in May and started working on June 1. On December 1 he is eligible to begin 401k contributions and the company has a 6% match. Is the 6% match based on salary starting on December 1 or June 1? If he contributes more than 6% in December could that extra above 6% also be matched? Thanks. Ray
Permalink Submitted by Alan - IRA critic on Sat, 2020-11-21 23:32
It is typically based on the salary starting in December, ie one month of salary.
Permalink Submitted by Ray Kaufman on Sun, 2020-11-22 00:27
Thank you