401K Plan

If I stayed here, I would not be able to retire. Medical insurance took any extra money I had to put into 401K. They match sounds good with a 15-25% match of your contribution, sounds impressive up front, but here is how it works. If you make 100K and contribute 6% ($6000), and your match is 15%, its only 900 or .9% of your 100K for a total 401K contribution of 6900 for the year. Previous company gave 4% match plus a 1.5% match on your 6% contribution. In the same example, making 100K per year- I contributed $6000, the old company gave me $4000 (4%) plus another $1500 for a total of $5500 plus my $6000 which totals $11,500 vs $6,900 which reduced my retirement overnight by $4600 per year. That is why I gave them one star