How good is your company's 401(k)?
Bloomberg ranked the 401(k) plans of the top 50 companies in the S&P 500 based on the generosity of their plans for a new hire using the criteria below.
How good is your company's 401(k)?
Let's review your plan so you can compare it to what a new hire would receive at the companies below:
,
a
company,
matches a
of your contributions up to
?
of your pay
up to
of
?,
beginning
after you start working there,
and makes matching
payments
.
The company offers
,
provides
in additional contributions,
and matches with
.
Your matching contributions vest
.
employees in
its plan.
How good is your 401(k)?
401(k) plans have replaced pensions as the way most companies help employees save for retirement. Workers make before-tax contributions and pile up tax-deferred cash, and employers often match part of what they put in. But some plans are more generous than
others.
This graphic lets you score your company's 401(k) plan so you can compare it to those offered by the top corporations in the S&P 500. Start by telling us some details about your
plan.?
Your Contribution:
You work at
in the
industry
and earn
per year.
If you're
the law allows you to contribute up to
,
which means you could put in
of your
pay.
Company Match:
This is the most important measure of how generous a plan is. Some companies match a percentage of workers' pay while others contribute a dollar amount.
matches up to a
of your
pay.
Company Match:
The most
will match is
?
of your
pay.
Company Match:
The most
will match is
up to
?.
Match Eligibility:
Some companies require employees to wait a year or more before they're eligible for a match, which reduces savings. Your
match starts in
.
Match Payment Frequency:
Some companies pay their match multiple times throughout the year, which means employees can earn more investment income on their savings.
pays
.
Additional Contributions:
Besides the match, some companies give more through profit sharing and other contributions.
typically gives
in additional
contributions.
Choice of Funds:
You can increase your savings if you have a choice of low-cost index funds, which don't have high management fees.
offers
.
Company Stock:
Some companies require employees to invest their matching contributions in company stock initially.
matches with
.
Vesting:
Companies can require employees to forfeit their matching contributions if they leave before a certain number of years.
fully vests matching funds
.
Automatic Enrollment:
Some companies make it easy to start saving for retirement by automatically enrolling new hires unless they opt out.
new
hires.
