Tip of the Day 3/25/06 - 401k Match Bonus
A lot of companies today offer their employees some form of 401k plan. If you’re not familiar with it, a 401k is basically a fund where you can set aside a certain percentage of your paycheck per pay period to be placed in this fund. This amount is taken pre-tax, so it comes out of your gross pay. Also, per the title of this post, many companies also offer a match bonus for your 401k. This means that they will match your 401k contribution per pay period up to a certain percent. For example, if they match up to 6%, and you contribute 6%, you will actually be putting 12% into your 401k. You should check to see if your company has such a plan and make sure that you are contributing at least up until the maximum match (in most cases), so that you are fully taking advantage of the bonus.
Tags: 401k, match-bonus, money
This entry was posted on Saturday, March 25th, 2006 at 11:48 am and is filed under Tip of the Day. You can leave a response, or trackback from your own site.


