Lesson 7 - What's an employer match?

3 MIN READEditorial Policy

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 TypeExampleYour Annual ContributionYour Employer's Annual ContributionTotal 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>>

Claudia 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.

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The (k)ickstart™ program is administered and offered by the recordkeeper, Human Interest Inc. ("HII"). HII's subsidiary and registered investment adviser, Human Interest Advisors ("HIA"), receives a fee based on assets under management. As such, HIA will earn more in asset-based fees if a plan participant increases their contribution in connection with the program.