Edit: math checks out, it looks like they match per pay period (every other week for me)-
120,000 / 26 weeks * 6% * 25% = $70 per paycheck. Their total contribution of $418 / $70 is 6, and I have contributed 6 times total this year.
Not sure whether they’ll perform a “trueup” as one commenter mentioned later on, guess I’ll see.
My employer matches 25% of the first 6% and I make ~120k a year. I was eligible to start contributing to the 401k starting in July, but I did not actually start putting money in until October because of clerical errors on my HR’s end (the HR department is one person, and it has been really difficult to get any clear information or help from them in general). I set my contributions super high to try to offset this (like 40% of my income) and get a decent amount contributed for 2021. I have contributed 12k at this point, well over 6% of my yearly salary.
Shouldn’t my employer match be ~$1800 now? Because currently it says only $418. Just wanting to confirm if I’m missing something as I don’t really want to reach out to HR again about it unless I have to, especially because I get the feeling they will act like I’m being petty over the exact match amount.