401K Question

[gottimd]

I have a 401K with my old company that I left about 8 months ago. Now, my new company, doesn't start matching the 401K Plan until you have been employed for at least a year.

My question is, at the time of one year with my new company, if I Roll over my existing 401K, does the new company match it? Lets say I have $100K in my 401K at my old job, will my new company match a percentage of the $100K 401K I am rolling over or does it not work that way?

[rkmsuf]

psst....ask your new company.

[Draft Dodger]

it would be very very unlikely that they would match a rollover. if they do...can you find out if they are hiring?

[JHandley]

No. Well, I can't be absolute, but if they do, are they still hiring?

Typically, companies will match payroll contributions, not simply any contribution.

[gottimd]

psst....ask your new company.

psssst.....no.

[Butter]

Why don't you want to ask the new company? Probably because you know it's not going to happen. Longshot that the new company would match any of the rollover.

[gottimd]

it would be very very unlikely that they would match a rollover. if they do...can you find out if they are hiring?

That is what I thought. The question came to me when the chick I work with was saying that she was waiting to roll over to get the match. It didn't sound correct, but I didn't want to call her a liar and punch her in the face.

Or should you not punch people in the face?

[gottimd]

Why don't you want to ask the new company? Probably because you know it's not going to happen. Longshot that the new company would match any of the rollover.

Apparently your companies HR departments are more responsive. It would take weeks for an answer from mine.

[JHandley]

Also, there's always a limit to how much your company will match. I've seen anywhere from 6-8%. In other words, if you contribute 10% of your check to the 401k, the company will only match 6% of your check.

[Toddzilla]

I would be willing to wager that no company in any capacity would ever match a rollover from another 401(k). Never. Ever.

[rkmsuf]

That is what I thought. The question came to me when the chick I work with was saying that she was waiting to roll over to get the match. It didn't sound correct, but I didn't want to call her a liar and punch her in the face.

Or should you not punch people in the face?

all this to impress a girl

[stevew]

I think gottimd is going to have to choke a bitch.

[Warhammer]

That is what I thought. The question came to me when the chick I work with was saying that she was waiting to roll over to get the match. It didn't sound correct, but I didn't want to call her a liar and punch her in the face.

Or should you not punch people in the face?

Don't call her a liar, but you can punch her in the face.

[gottimd]

all this to impress a girl

an admitted dendrophiliac as well.

[rkmsuf]

an admitted dendrophiliac as well.

You ever get it on with a venus fly trap?

[gottimd]

You ever get it on with a venus fly trap?

Ever been in a Turkish prison?

[wade moore]

Also, there's always a limit to how much your company will match. I've seen anywhere from 6-8%. In other words, if you contribute 10% of your check to the 401k, the company will only match 6% of your check.

lordscarlet's company matches 50% of ALL of his contribution, no matter how much it is. it's absurd.

[Passacaglia]

lordscarlet's company matches 50% of ALL of his contribution, no matter how much it is. it's absurd.

That is absurd.

[stevew]

lordscarlet's company matches 50% of ALL of his contribution, no matter how much it is. it's absurd.

That's flippin crazy.

[rkmsuf]

It's outrageous, egregious, proposterous!

[wade moore]

Yeah. If he maxes out his 401k then they match 50% of that.

[lordscarlet]

Counting matching I will have put 22,500$ in my 401k this year (15,000$ limit plus 7,500$ matching)

[CU Tiger]

I am blessed...$=$...

30k/year:eek:

[Subby]

Classy!

[Pumpy Tudors]

I only make $3120 per year in the coal mine, but the company contributes $350000 to my 401(K) every single year! I'm going to be really fucking rich when I retire!!!

[lordscarlet]

I am blessed...$=$...

30k/year:eek:

And I thought mine was insane.

[CU Tiger]

No doubt, when I started thre (this July) the HR lady was going over benefits,
I said, "Whats the cap on the 401k match?"
Her: "There isn't one, but you can only contribute 15k/year"
Me: "If I put in 15k, the company will match?"
Her: "Yes"
Me: "Are you sure?"
Her: "Yes, they have for me each of the last 4 years"
Me: "Done! When can I start contributing?"

I have never had this before.

My last company matched .50-$1 up to 3%...this rocks

[Simms]

My company matches 200% (or more, sorta).

Basically, if I contribute 5% of my pay or more (up to the max), they chip in 12%. So if I put in 6% (I do), I get $3 for every $1 I put in. Fully vested after 5 years.

[wade moore]

I hate you all. I get the standard 25% match for the first 6%...

[finkenst]

i get $ for $ up to 6%.

[Toddzilla]

I get $1/$1 for the first 3% and then $0.50/$1 for the next 3%, but it's immediately vested.