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Help! 401K questions
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Help! 401K questions
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I have a couple of 401K questions. Any help you can give me would be greatly appreciated. 1. If I want to put a part of employees bonus into their 401K instead of paying out, what are the something
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Help! 401K questions

posted at 11/3/1999 6:37 AM EDT
Posts: 61
First: 7/21/1999
Last: 3/6/2007
I have a couple of 401K questions. Any help you can give me would be greatly appreciated.

1. If I want to put a part of employees bonus into their 401K instead of paying out, what are the somethings that I should consider and watch out for?

2. I am trying to figure out what is most common 401K match percentage / amount is. Does anyone know answer to this question or seen a survey or survey result somewhere I can look up?
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Help! 401K questions

posted at 11/18/1999 4:25 AM EST
Posts: 19
First: 9/15/1999
Last: 3/3/2001
Check your 401(k) plan document to verify if it allows optional contributions, other than the match. Our does, although we've never done it. I would also review any policy on the bonus plan to make sure you aren't violating any rule or practice you've followed, especially if the employees would be upset by this decision. As far at common matches, I don't know. We match employee contributions up to 10% of their gross pay with a 25% employer contribution; but we also have an ESOP. Good luck!
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