this post was submitted on 03 Oct 2023
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What company let's you put a full 15% into a 401k? I mean... sign me up.
Generally you can put in as much as you want but they only provide matching for some percentage. Usually like 1-5%. There is a total contribution limit but that won't affect most people.
You can put in a max of 22,500 per year. The employer contribution can be higher.
The company limits it to a percentage of your paycheck. Where I work it used to be 10% so I was never mathematically capable of maxing the full irs limit, but they moved that to 30% recently.
The limits on 401k contributions are federally regulated and are set as a nominal amount.
Employers often have employees select a percentage of their income to contribute, and for very high income earners, 15% might be over the federal limit. Also, employers can match employee 401k contributions. That is usually a percentage match of annual salary up to a given limit (e.g. 2% of salary up to $3000).
You can put in however much you want, the company only matches up to a certain low percent though. Typically less than 5%. I personally put 17% of my income into my 401k since I didn’t do anything for about a decade that I should’ve been doing 10% and now I’m trying to catch up, company only matches 3%
Any company that pays you less than $150,000.
The company I work for just moved up to 30% of your paycheck. But they don't really match. They say they do, but the max they will match is $750 per year.