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I contribute the max amount. My company contributes 9% regardless of whether I do!
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@MrsKoala: your financial guy's advice- is that per couple or individual?
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I do 10 percent, which my company matches, so total is 20.
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@Mrs. Lemon-Lime: It should be per person.
I put in 12% (which includes the company match).
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@Mrs. Lemon-Lime: Individual.
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@bluestriped bee: I wonder if I am in something that like - I could have swore I was only doing 4% but upon checking it I was at 8% (not including employer contribution)
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I get 11% taken out for my pension and then I contribute another 6% to my 403b. Though I only upped the 403b this year, for the first 9 years at my job it was much less.
I think my husband's 401k (no match) we contribute 5% to? And he never even had one until a couple years ago in his mid-30s, so we definitely has some catch-up to do!
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Right now, 9% and my employer puts in 5%, so 14% total. I used to do more, but DD's daycare had a huge (unfortunately unavoidable) increase in rates last year and the money had to come from somewhere. I'll up it again once the tuition bills go down (a.k.a. once she's in kindergarten...).
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I only ever did the amount that was equal to the company match. So if the match was 6%, that is the percentage I contributed.
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I do 13% since thats the company match.
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@Adira: I'm sure they do! He should look into this. I'm so bad about keeping up with this stuff - I set my percentage once and never looked again.
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@Modern Daisy: haha, I originally did that too until my mentor at work pointed out that if I was maxing before the end of the year, I was missing out on employer contributions. Now every year, I recalculate what my percentage should be in order to hit the max right at the end of the year.
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@Pumpkin Pie: Wow! They match up to 13%?!? That's awesome!
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Our retirement funds are sorta all over the place and actually I don't think any of them are 401K. Its a patchwork of federal and state government pensions, 403Bs from his work at the college, and other random retirement investments.
I'm a state government employee, so I have some automatic deduction (like 6.5%) from my paycheck every month that goes towards my pension plan. I have some money in my TSP from my federal employee days and a small Roth I had when I was younger before we incomed out of that.
DH's employer automatically contributes 8% regardless of employee contribution and he contributes whatever amount our accountant recommended for tax purposes. I can't remember how much at the moment, but that job is mostly our benefits vehicle so we see very little take-home pay (retirement, FSA, childcare FSA, healthcare coverage whenever I'm off on one of my long unpaid maternity leaves or if I choose to stay at home in the future, etc.)
DH has his own law firm, so we have SEP contributions for that. He receives a small veterans pension and he has 10 years federal employee service credit that he hopes to build on when he's older (he wants to be an administrative law judge) and he has a bunch of Roth and other retirement investments from his 20s.
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@Mrs.KMM: yes, last time I checked. I hope I'm right.
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I do 12% and it does not include the company match since the amount differs every year depending on how the company does financially.
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5% which my employee matches. Although in 2 years it increases to a 1.5 times match so they'll pay 7.5%
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I put in 5% my company puts in double what I put in (so 10%). Total 15%.
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Is this similar to RSP in Canada? We max DHs out. And then max out my tax free savings account. We will compare in 30'years which was the better way to go!
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I max mine out (18K), not sure what percentage that is. I always put commission in it, since that gets taxed so darn high.
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I do 3%
DH does 3% and they match his so 6% -
I've maxed mine out the last couple of years & my employer matched 50% of what I contributed.
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Wow some of these employer matches are really generous. I've never seen an employer match 100% of 10%.
I currently contribute 10% and get a match of 50% of 3% which really works out to 1.5%. DH does 6%. Not sure what his match is. Once we are finally out of having to pay so much to daycare we'll up our contributions to 15-20% each.
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@Mrs. Champagne: 401k is a company defined contribution pension plan. An American RRSP would be an IRA.
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Me 0 since I work part time, but I have around 10k in an IRA from previously 401k's. DH does 6, and his company matches 3% so 9% total.
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I put in 4.5% and my employer contributes 9% so 13.5% for me. DH puts in 5% and gets 9% so 14% for him.
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We max out. And divide up over the course of the year so it doesn't hit max until year end.
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I put 11% plus my company matches 6%. I've set mine to automatically up the percentage by 1% each year. We are trying to be more aggressive because I would like to retire when DH is 65 and I am 58.
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I'm jealous of all these company matches. Our matches are discretionary. I've been there 4 profitable years and they haven't decided to match yet. Adding to that our contributions are capped at a very low rate so I can't max out my contribution. I'm glad I started my retirement contributions early because I'm making no progress with my current employer.
ETA: This thread prompted me to check our benefits book. They removed the company set contribution limits. I wonder how long ago they changed that. Gotta update my contributions.
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