[quote=plm]401Ks are so overly complicated. Being a max out saver myself, my understanding is that most companies offer the true up but that is calculated at the end of year and paid beginning of next year. For me the matching contribution stopped but the non matching contribution continued.
Also Christmas might have came twice for you as well as early. For me the 401k contribution applies to bonuses as well as salary so the true up should take that into account so you should get a true up of your bonus as well. Merry Christmas![/quote]
Whelp. You are correct. That’s what the discrepancy was. For the life of me I couldn’t figure out why the match was more than what should have been on my base salary…I thought company does a 5% match on the base and an extra prorated 5% match starting July. But the amount on my paystub for 2021 is higher than that and couldn’t figure it out…
So it also seems like they did a match on the retention bonus they paid us employees in San Diego when they decided to close the SD office and have everyone here permanently work remote….
I guess they were afraid in 2020 people would just quit so they handed out 25% retention bonuses to get people to stay until Feb 2021, and paid them out end of Feb….We thought they would ask us to transition stuff over to a Florida staff, pay them a lot less, and then get rid of us..but it didn’t happen with this COVID economy since finding people was such a pain in the ass in general.everywhere…
So the 401k match appeared to apply to the retention bonus paid in Feb 2021 and also the the extra bonus I got in December. a match for a lump sum paid match. Ha ha..
I really should pay closer attention to the pay stub….lol…My last company was a startup and towards the last 4 months and the employer withheld the 401k but didn’t deposit the amount into our accounts for 2 months. I was the first person to notice it and called them out on it….Made sure they paid it, then I stopped contributing to 401k and shortly after quit the company….They ran out of money shortly after.
