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Retirement

What's a good 401(k) employer match?

ByEBN Staff
September 25, 2024 10:11 AM
2. 401k scary.jpg
Close up of a 401(k) statement.
DNY59/Getty Images

Some employees saving for retirement in 401(k) plans can have the added benefit of employer matching contributions to increase their overall savings. Most employers offer between 3.00% and 4.99% of their employee's pay as their match, according to data from Vanguard. 

Read more about 401(k) employer matching.

Maximum value of employer match (percentage of pay) Plans offering match Participants receiving match
.01%-.99% <.5% <.5%
1.00%–1.99% 5% 14%
2.00%–2.99% 7% 4%
3.00%–3.99% 29% 25%
4.00%–4.99% 28% 23%
5.00%–5.99% 10% 11%
6.00%–6.99% 13% 10%
7.00%+ 8% 13%
Necessary employee contribution for maximum match (percentage of pay Plans offering match Participants receiving match
1.00%–1.99% 1% 6%
2.00%–2.99% 1% <.5%
3.00%–3.99% 6% 2%
4.00%–4.99% 13% 12%
5.00%–5.99% 22% 20%
6.00%–6.99% 43% 46%
7.00%–7.99% 2% 1%
8.00%–8.99% 4% 4%
9.00%–9.99% <0.5% <0.5%
10.00%+ 7% 8%
Chart showing what's a good 401(k) employer match
Chart showing what's a good 401(k) employer match
Chart showing what's a good 401(k) employer match
Chart showing what's a good 401(k) employer match
Chart showing what's a good 401(k) employer match
Chart showing what's a good 401(k) employer match
Chart showing what's a good 401(k) employer match
Chart showing what's a good 401(k) employer match
Chart showing what's a good 401(k) employer match
Chart showing what's a good 401(k) employer match
Chart showing what's a good 401(k) employer match
Chart showing what's a good 401(k) employer match
Chart showing what's a good 401(k) employer match
Chart showing what's a good 401(k) employer match
Chart showing what's a good 401(k) employer match
Chart showing what's a good 401(k) employer match
Chart showing what's a good 401(k) employer match
Chart showing what's a good 401(k) employer match
EBN Staff
Retirement Compensation Financial wellness Employee benefits
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