Throwaway because I feel dumb.
Husband's new employer has "4% 401k matching". I thought that meant they would match his contributions up to 4% of his annual salary.
He says he asked his benefits person and she says that no, they will match 4% of his contributions. If he contributes $100, they will contribute $4. This seems somewhat close to pointless, but I'm also new to 401k matching. Is this way pretty common?
EDIT: Thank you for the responses. We'll be attempting to clarify. (Most responses are TL;DR: "That's garbage.")
Submitted May 17, 2018 at 12:21PM by retirementderp https://ift.tt/2rRy5Gm
