Originally Posted by
CA1900
The company's matching compensation only applies up to 20% of your income, however. If you gross $100,000, $10,400 is the most the company will contribute.
Correct me if I'm wrong, but the company is matching up to specific dollar values (max IRS allowable per age). Up to age 50, that is $18K, (they'll give us $9k). After age 50, the "catch up" dollar value goes up to $24K (so $12k match).
Sadly, on my 3rd year 7/7 pay, $24K is about 1/3 of my base pay. I'm doing 23% right now, and they've been matching it 50% of that. (Weekly match is 50% of 15%, then there is an annual catch up in March)
I'm broke every other Thurs before payday, but my 401K is growing pretty well.