Don't Miss Out: Check Your 401(k) Match Today
Employees are urged to check their 401(k) plans, as many companies offer generous matches that can significantly boost retirement savings. A 100% match means your employer contributes $1 for every $1 you put in, up to a certain percentage of your income.
For instance, a 100% match on 4% of a $60,000 income results in an additional $2,400 contributed by the employer. Over 20 years, with a 10% average annual return, this could grow to nearly $275,000. Even a 50% match can double your contributions. To claim the full match, ensure you contribute to your 401(k) or Roth 401(k) during the year. However, be aware of the vesting schedule when planning to leave the company, as you may forfeit some of your match.
While there may not be a specific company offering a 100% 401(k) match up to a certain percentage of annual salary in 2026, many companies do offer matches. Check with your HR department to determine if your employer offers a match and how it's calculated. Maximizing your 401(k) contributions, including employer matches, can significantly improve your financial security in retirement.
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