Hey All - a quick question here - cannot find a better space for discussion, so here it goes...
I started in Jan and I am adding about 8 percent to my 401k...
It's my understanding that matching will start after 1 year. and in December...
Since I started in Jan, does that mean that I'll get a 0% match in Dec, as I will be under 12 months tenure in Dec.
If I am getting this right, I get nothing before end of 2017...
LMK...
Cheers!!
Since you started after Jan 1st 2016, you will not be getting a match at the end of this year. Let's assume you are insane and you manage to stick around until 12/15/2017, you'll get a 6% lump sum payment (5% match + 1% automatic contribution) added to your account. The IBM Way baby...
Thats if they don't take away the match which I've heard might be announced soon.
I think it varies by the group, I may be off though... I think you will be getting money in 2017, December 2017... YOu can expect to get a 6% lump sum with 5% match and 1% automatic contribution...