I don’t see anything in transaction history yet, wondering if others can see anything pending for today.
19 replies (most recent on top)
I thought the employer 401 matching is fully vested immediately? Has there been a change of rule lately?
Posted today. I can see it in transactions & balance.
mine shows updated in the total balance but not in the transactions yet.
@jte+1krRtvNX - You'll have to go read the handbook. IIRC (the rules have changed slightly since i started so keep that in mind) you could open a 401k and contribute but weren't eligible for a match until 1 year of employment. So if you started in March 2022 you won't get a match until Dec 30, 2023 covering whatever you contributed from March hiring anniversary 2023 through EOY, up to the 6% of your salary if you contribute more than 6% to make up for the missed Q1 match time.
@1bqt+1krRtvNX - If you don't see a match then probably same deal as above. Go read the handbook but previously you needed to be employed 1 year before you qualified for a match but at that point on you were always fully vested. Now with the 3 year vesting period I'd like to think that you're eligible for the match from day 1.
@1bzv+1krRtvNX - fined for end of year match vs per pay-period? You should be fined or breathing up all the air I'm entitled to. We're almost to the new year, raise your intelligence a bit for a fresh new start. I don't agree with it but just because you've never worked at a company that has had this policy in place doesn't make it illegal or immoral. This is a business not your best friend. Negotiate a higher raise, higher base pay on start, work less, do something to make this mathematical calculation of a "job" come out in your favor. Or you could just sit around hoping someone else makes your life better for you and companies will squeeze you the rest of your life. We need cogs like you to make the machines run.
Just don’t get promoted to executive level and you won’t need to worry about anybody clawing anything back from you.
If you do become an executive here I would make sure to keep about 10 million set aside in case the OCC, CFPB, and other politicians decide to come after you to advance their career.
It's 12/31 morning - I don't see the match in my Empower account. I checked the transaction page. What am I missing?
@jte+1krRtvNX this is a great question. You don’t get your match vested for 3 years but whether that means they give it to you then take it back if you leave or just don’t give it to you until you’re eligible I’m not sure.
A few years, maybe 3, ago a guy on my team left before he vested and they pulled his match on termination. It wouldn’t surprise me if they just stopped matching until you hit the 3 year vest.
applied end of day, after hours
@xbz+1krRtvNX interesting, my match is working out to 6.75%. How much do you want to bet that they calculated incorrectly and will claw it back in a few years after another lawsuit?
They should be fined for matching at the end of the year. Every other company I have worked for has matched each pay period. They are such slimes.
Do you get Match if you started middle of 2021?
@xbz+1krRtvNX Are you looking at more than one deposit? Should only be 6% for the employee salary match. Fire up that 12/23 pay stub, YTD row, Gross Pay column x .06 should = the same as in the single 12/30 "Contribution". I don't like how it's not labeled as an Employer Match like most other fiduciaries do in my experience but whatever. Give it another day or so and hopefully it will show up in the Matching Contribution Account.
I see mine. We work for a great company!
7% this year ? I thought 6%
It shows up in Transactions at the bottom of the Account Overview Page, but is not yet reflected in the total balance.
Mines there under transaction history.
I saw mine first thing this morning.
No action yet
This morning I used the chat on lower right side of the screen to chat with an Empower rep and they confirmed my match amount. It will be applied today.