I’m new to retirement saving and I really feel like one thing is off with my numbers. I work for a significant healthcare company. Midway via this yr I started contributing to a 401K and ended with $1510 as worker contribution and my employer contributed $377. They marketed as a 3% match, however after digging via paperwork I discover it’s really “25% of every pretax, or Roth, greenback you contribute for the primary 6% of pay deferred to your 401K.”
I’m misplaced. I contributed 4%, in order that they “matched” 1% of that? That appears like a not nice deal after I see different firms are matching dollar-for-dollar as much as 5%.
Please ELI5, thanks in your assist.
