401k match question

Curious how exactly the 401k match is calculated for the end of year contribution. If someone makes 100k (no bonus) and contributes 6% all year - well that's pretty easy - should be 6k match contribution. What if this individual contributes 0% for the first half of the year and then contributes 12% for the rest of the year (they had early year cash flow problems and plan to make up for it the 2nd half of year)? Would they still get a 6k match? Or is the match compiling based on each pay period and the match would only be 3k?

Anyone have any idea???

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The 6% is accrued each pay period not calculated at the end of the year. So what you describe would end up with a $3k match at year end. It is an accrued liability on WF books each pay period. If you leave and don't get the accrued match then WF takes it into income in the 4th quarter. There is an income line item in the 4th quarter financials. THAT is why WF does this. Another McKensie recommendation and yet another fake income as the wagon train slowly slides into oblivion. We have completely forgotten how to create real income.

it's also based on total comp so base + bonus. If you make 100k base + 25k bonus then you match will be $7.5k.

I was the first poster and I take it back. Sorry. Quarterly was how they used to do it before they switched to Annual.

After reading the Plan Summary it is clear that timing is no longer important. You get a 6% match as long as you have 6% in accrued contributions by year end.

Post ID: @a1+1jgqd917t - Where are you getting this info from?

Calculated quarterly
1Q - zero
2Q - zero
3Q - 6% match
4Q - 6% match

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401k match question

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