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Asked 12/26/2007
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401K contribution Do employers have to match 3% when the employee contributes 3% or more of their yearly income to their 401k? |
Answer 1/1 - Submitted 12/28/2007
It depends on the company's rule of contribution. I worked for this company that only matched 1.5% of the employee's contribution. When the company paid the 1.5% match, it did not go into my 401K, it was paid back in company stock. If you review your cpmpany's policy on matching employee funds, which is given to you when you sign up for your 401k, you will find the policy. If the information is not there, contact your Human Resource Manager for that information.
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