4% Retirement Matching?
-
I was at the dentist hygienist. The screen in the waiting room said they we're hiring various positions.
It listed benefits. One of them was- "4% retirement.
matching".I'm pretty sure I read it correctly.
What do you think this is?
Do you think it's that employee contributes $ to a retirement account, and the employer matches 4% annually?
I don't know if I'm understanding this correctly, but it doesn't seem like much of a benefit.
-
I'm assuming it means the employer is matching 4% of the employee salary into a 401K or other tax-deferred plan. The employee would effectively be saving the equivalent of 8% of their salary. Compounded over time that's a pretty good chunk of change.
If that's what it is, I actually think it's quite good. It was for me. My company matched 3% and thirty years later I have a tidy retirement account.
The magic of compounding....
-
Hello! It looks like you're interested in this conversation, but you don't have an account yet.
Getting fed up of having to scroll through the same posts each visit? When you register for an account, you'll always come back to exactly where you were before, and choose to be notified of new replies (either via email, or push notification). You'll also be able to save bookmarks and upvote posts to show your appreciation to other community members.
With your input, this post could be even better 💗
Register Login