401(k) Savings Plan match calculator
- Do you have at least one year of service as of Jan. 1 of this year?
- Is your Total Annual Cash Compensation less than $1,000,000?
- Do you need help determining how much to contribute to before-tax and/or Roth for the rest of this year to get the full match?
If you answered YES to all of these questions, use this calculator to help you maximize your match.
If you answered NO to any of these questions, contact the 401(k) Savings Plan Call Center at 866-576-2401 to verify your match eligibility and/or for assistance with your calculation, if applicable.
Reminder: To get the full 5% match, make sure your before-tax and/or Roth contributions equal at least 5% of your total Eligible Compensation (this includes your Ongoing Compensation for the whole year, plus the cash portion of any Annual Incentive Compensation, generally paid in January or February), up to the IRS and Plan limits. Please note that the calculator assumes that you are eligible for the match the entire year.
Enter your information below, then click Calculate to see the figures you'll need to maximize your match.
Here is the information you need to maximize your match:
Match-eligible compensation: B1
$0
$350,000
$0
Estimated paychecks remaining this year: B3
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Hidden Calculations
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To get the maximum match this year, contribute:
- %
per paycheck as before-tax and/or Roth for the rest of the year.
(This is the approximate percentage you need to contribute to maximize the match.)
Congratulations!
You are currently on track to maximize your match.Oops!
This exceeds the plan limits, please review and adjust your entries.For future years, one way to ensure you receive the full 5% match is to contribute 5% on a before-tax and/or Roth basis (up to the IRS and Plan limits) from both your per-pay (Standard) rate and Annual Incentive Compensation (Other) rate, if any.
Are you on track to maximize your match?
If not, consider logging on to the 401(k) Savings Plan Web Center to increase your contributions.Important information about the calculator
The "401(k) Savings Plan match calculator" is a tool for match-eligible employees. You're eligible for match if you have completed one year of service and have Total Annual Cash Compensation of less than $1,000,000 (determined as of Aug. 1 to take effect the following Jan. 1 and remain unchanged throughout the year). If your Total Annual Cash Compensation is less than $350,000, your before-tax and/or Roth contributions are eligible for dollar-for-dollar matching contributions up to 5% of Eligible Compensation; if your Total Annual Cash Compensation is between $350,000 and $999,999, your before-tax and/or Roth contributions are eligible for matching contributions up to 5% of Eligible Compensation (up to the IRS limit), capped at $10,000 annually. To view your Total Annual Cash Compensation amount, go to the Benefits Web Center and select Personal Details. Generally, you must be employed on Dec. 31 to receive the match.
By inputting your personal information, the calculator estimates how much you might consider contributing through the rest of the year in before-tax and/or Roth per-pay (Standard) contributions to maximize the match. The calculator assumes that you are eligible for the match the entire year. Therefore, if you did not have a year of service by Jan. 1 of this year, do not use the calculator.
There are a few variables that can impact your actual receipt of the full 5% match. These include but are not limited to:
- The accuracy of the numbers you input. The calculator is based on your inputs (which may contain estimates) and therefore, the results it displays are estimates. Using the calculator and its estimates does not guarantee you'll maximize the match.
- When your before-tax and/or Roth per-pay (Standard) contribution rate change becomes effective. Since per-pay (Standard) contribution rate changes may not become effective with the very next paycheck, the calculator does not include the upcoming paycheck when calculating the remaining paychecks for the year. If you change your per-pay (Standard) contribution rate and the timing is such that the change is effective with the next paycheck, your total contributions at the end of the year may slightly exceed the potential maximum match amount. Any before-tax and/or Roth contributions above 5% of your Eligible Compensation will not be matched. Additionally, non-Roth after-tax contributions are not match eligible. Note that the per-pay (Standard) contribution rate applies to your Ongoing Compensation, defined above, and is not applied to the cash portion of your Annual Incentive Compensation, if any. Annual Incentive Compensation (Other) rate applies only to the cash compensation awarded, if any, under the firm's Performance-Based Incentive Plan (generally paid in January) or Branch Profitability Incentive Plan (generally paid in February).
To make the most of the calculator, we recommend you perform your calculation and increase your per-pay (Standard) contribution rate on the same day.