I've had discussions with friends at work on how competitive our 401K match program is. It's hard to tell what bench marking is out there.

They match 100% of the first 1%, then 50% of the next 5%. So it averages out to 3.5% match on your 6% contribution.

They will match additional, but based on company profit performance. Best case 2.5% of gross income if profit is 15% or better (rarely happens).

Is that pretty competitive?

I understand differences in industries etc, but just looking at general comparisons.

Give me your feedback.

Thanks in advance.

I'm in distribution of industrial supplies. Used to be 50% of first 6%. But, no 401k match anymore. Replaced by profit sharing of straight 6% (so basically doubled our matching), and ESOP contributions.

50% on your first 6% + a annual profit sharing contribution anywhere from 5-10% based on company performance. Could be worse or better than that but has always been in the 6-8% range so far.

Ours is straight 4% and then increasing based on years of service. I have been here 10 years so I am maxed out at 9% match

Buddy and I where talking FIRE this weekend, he said the company he works for contributes

15% of employees salary to 401K

They also get Profit Sharing and a Bonus every year.

and on top of that, they get 100% Medical for Family.

The company is consistenly in the Top 10 companies to work for in Portland.

Nice package.

100% up to 6% of salary

75% of the first 6% employees contribute (effectively a 4.5% match).

Annual discretionary 401k contribution (as part of the bonus structure) that is usually 2-3%

We also have a pension, but I'm not exactly sure how contributions are determined.

My company does 3% of your total gross pay into 401(k), and 12% in Company stock.

So if you make $100,000, you will get $3000 into 401(k) and $12,000 in Company stock each year

Commercial air transportation. 9% of salary is matched 100% in 401k. Also receive company profit sharing towards a separate retirement account which has averaged about 11% of salary the last couple of years. I'm very fortunate.

Up to 5%, then profit sharing

Fortune 100 Midstrem O&G

6% 401k, plus 4% profit share, so 10% of salary & bonus

6% match, up to $7500 dollars maximum.
So basically you cap out at $7500 once > 125k salary.

Immediate vesting.

401k match is 6% of salary\bonus

Previous job was 6% plus 3% safe harbor, 3 year vest

Current job is 5% plus 3% safe harbor sliding 5 year vest. Plus profit sharing.

Independent o&g company. We get 100% match up to 6% of base salary.

100% match up to 4%, 50% match 4-6%, so not 5% match at >= 6% contribution.

Additional 2-3% profit sharing match for all employees.

Best I've seen is Microsoft and a few of the other tech companies... match 50% no matter what you contribute. Anyone not maxing out those plans is throwing away free money.

8% match

We get 2% of salary as base. That steps up 0.5% at age 35 and every 5 years after.

100% match up to 5% of salary.

No match at my company, instead they just automatically contribute 14% (going to 15% on 1/1/19) to your 401k. I don't have to contribute a dime. Last year profit sharing was in the low teens (13.2%). Average over last 10 years or so is probably 7%. A very rare contribution that I am extremely grateful for!

Ed Carter said:

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My company does 3% of your total gross pay into 401(k), and 12% in Company stock.

So if you make $100,000, you will get $3000 into 401(k) and $12,000 in Company stock each year

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How much would it be if you made $70k a year

My company doesn't offer a 401k; instead they contribute 15% of salary into self directed, pretax retirement account. Employees can't contribute to this specific account.
So if you make $100k, that is $15k.

Also get 10-20% bonus.

Match 100% up to 6% i contribute and an additional 8.5% contribution by employer, basically 14.5% matching. Been a fortuitous retirement builder that I'm very thankful for.

1:4 (not sure which goes first) match up to 8%, so my 2% maxes their match at 8%.

100% match on the first 4%, then 50% on the next 2%.

100% Match to 6%, and an additional 5% to company "savings plan" that gains interest each year.

Thanks for the replies. This gives a lot of insight into what's out there and a basis of comparison for further considerations.

Match 150% up to 6% employee contribution. I put in 6%, they put in 9%.

*edit: employer contribution vests over the course of 5 years (I believe - I need to read over this again. Either way it doesn't change what I'm putting in and isn't enough money to stay in one place or another for IMO)

O&G

100% match up to 8%

O&G independent

80% to 6% vests immediately.

Let me be the first...no match at my current gig. Last gig I got 3% profit share.

Most of my start up clients offer no match.

I work at a small finance professional services consulting firm.

100% match up to 6% of salary which vests immediately with no differences for age or years of service. Industry is oil and gas.