Making the most of your match
Let’s break down how an employer match works and how to maximize contributions to your retirement plan.
How do I maximize my employer match?
To receive your full match, you must set the minimum contribution to your plan to reach your employer’s maximum matching contribution.
Let’s calculate what a match might look like assuming you have an annual salary of $50,000…*
| Employer Match Type | Example | Your Annual Contribution | Your Employer's Annual Contribution | Total Annual Contribution |
|---|---|---|---|---|
| Single-tier formula | $0.50 per dollar on the first 6% of pay | $3,000 | $1,500 | $4,500 |
| Multi-tier formula | $1.00 per dollar on the first 3% of pay; $0.50 per dollar on the next 2% of pay | $2,500 | $2,000 | $4,500 |
Put your match to work
See if you need to update your contributions—or if you’re contributing enough to meet your match (if offered).
Update your contributions today>>
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Article By
Claudia NewmanClaudia Newman manages the Retirement Education team that helps onboard employees to their Human Interest plan and explains the benefits of a 401(k) plan by offering live training. She has been working in the 401(k) and retirement plan industry in several capacities, including relationship management, sales, and back-office support since 2010.
