Employer match

Occurs when employers offer contributions on top of what an employee puts into their account. E.g. For every dollar you save, your employer fully or partially matches this contribution, up to a certain percentage of your salary (or dollar limit). A common match formula is where an employer matches $0.50 per dollar on the first 6% of your pay. Note: Refer to your summary plan description to see which formula your employer uses (if any).